Roughly 43 million Americans are saddled with a collective $1.73 trillion in student loan debt.
The federal government owns more than 90% of that debt, with the average borrower owing $37,113. According to the Brookings Institute, eliminating $10,000 of student debt per borrower would cost about $373 billion.Prior to the pandemic, Americans were making roughly $7 billion per month in federal student loan payments.
"Why should a woman who is working to make ends meet have her tax dollars go to a person who went to law school?" Sen. Cassidy, a Louisiana Republican, said in a news release. Anaheim, CA - May 16: Engineering graduates celebrate, during the 73rd commencement ceremony for Cal State Long Beach, held at Angel Stadium in Anaheim on Monday, May 16, 2022. (Photo by Brittany Murray/MediaNews Group/Long Beach Press-Telegram via G