The Transylvania Times -

Cancelling Student Loans


Last updated 2/22/2021 at 3:33pm

Last week President Joe Biden said he supported cancelling $10,000 in student federal loan debt for individuals, far less than the $50,000 proposed by other Democrats.

There are approximately 45 million Americans who hold a total of $1.6 trillion debt in student loans. Due to the amount and terms of many of those loans, millions of Americans, particularly those earning $40,000 or less a year, are struggling to pay those loans.

It now costs about $25,000 a year to attend the University of North Carolina at Chapel Hill – roughly $100,000 to get a four-year degree. Even if a student there...

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