FACTS AND FIGURES

Just for your satisfaction, here is info I pulled from government websites concerning student loans.  I've rounded numbers off for ease of reference.   Sometimes what we imagine and what is real are two different things.  

Our country is made up of just over 331 million citizens making up about 83 million families. Of those, 250 million are adults and 43 million have student loan debt. That makes 17% of adult citizens burdened with that debt.  Keep in mind that many young families include more than one person with debt. 

The total amount of student loan debt is $1.7 trillion.  That's how much money is owed to the US government for student loans it made/guaranteed.  Three-quarters of them owe over $10 thousand; half owe between $10 and $25 thousand; over a third of them (about 14 million) owe over $40 thousand.  The number keeps moving as time passes by but the latest estimate is that the Biden administration's proposal would relieve about $300 billion of debt.  Understand that the administration assumes some gains would be made in other areas by the boost to the economy with the passage of the proposal.  

Hope the above gobbledygook is a little clearer than mud and increases your understanding of the situation.  Currently the Supreme Court has agreed to discern if the President's proposal falls within Constitutional law.  Oral arguments from both pro and con will be heard in February and, if all proceeds as normal, will publish a decision in June '23.   

It is a big deal!

ps.  1.7 trillion dollars is $1,700,000,000,000.00;   300 billion dollars is $300,000,000,000.00