The US Government Is Expected To Forgive $108 Billion In Student Debt
An investigation found that certain student loans cost the government a lot more than anticipated.By Ryan Biek | November 30, 2016
The federal government is expected to forgive at least $108 billion in student debt in the next few years.
An investigation by the Government Accountability Office looked at the steep rise in students opting for income-driven repayment plans, and how much those loans are costing the government.
In case you're not paying for one of these plans yourself, here's how it works: Instead of paying a fixed rate on your student loans, the amount you pay can be capped at 10 percent of your after-tax income.