The FTC issued a consumer alert about student loan forgiveness scams after the Biden administration launches the student loan debt relief application on StudentAid.gov/DebtRelief.
who aren’t included in the automatic processing will have to submit their applications by Dec. 31, 2023.
The total cost of the loan handouts will amount to $500 billion, according to the Committee for a Responsible Federal Budget. The nation's federal student debt now tops $1.6 trillion after ballooning for years — while the national debt, according to the Treasury Department, currently sits at about $30.9 trillion.
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