Borrowers could get up to 0 back in their monthly budget from student loan forgiveness. Here’s how to use that money | CNBC

“It will be enough for us to start talking realistically about purchasing a home,” said Dara Zucker, 28, of student loan forgiveness.

Zucker and her fiancé have been looking for a house in Tampa, Florida. They budgeted $250,000 for a 1,400-square foot home, but between the unpredictable housing market and her $38,877 student loan balance, “we had to put that on hold.”

If $10,000 of her debt is forgiven, as expected, “I think it will become more realistic,” she said.

Borrowers could see ‘an extra $150 to $300 a month’

The burden of student loans has been blamed for holding Americans back from buying homes, starting families, and saving for retirement.

Now that the Biden administration has……..Click here to read the source article[read more]

Rising Dough

Rising Dough - the question(s) that we need to think about from the reading.How is the student loan forgiveness program going to benefit borrowers? How is this cancellation an opportunity for borrowers to do something different with their money?

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2 thoughts on “Borrowers could get up to $300 back in their monthly budget from student loan forgiveness. Here’s how to use that money | CNBC”
  1. The student loan forgiveness program is going to benefit borrowers due to it will help student save money for a house payments. That cancellation is an opportunity for students to get other payments taken care of.

  2. the student loan forgiveness program will benefit borrowers in the short term but long term it will not, as the money will have to come from somewhere and that means taxes will likely go up

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