April 28, 2017 | Updated at 03:48 PM EDT The Latest Entertainment & Celebrity News

Over $100 Billion Student Debt Will be Forgiven In The U.S

This is said to happen over the next decade or so. This could take a huge step forward in education.

By Maisum Raza, EnStars on Dec 02, 2016 04:34 AM EST
facebook tweet this pin it reddit plus
Sign Up for Newsletter
Dirty Books
Two college girls observing a collection of 'dirty', erotic rare books in the Special Collections department of the Johns Hopkins University Sheridan Libraries, smiling expressions, 2016. (Photo by JHU Sheridan Libraries/Gado/Getty Images). (Photo : JHU Sheridan Libraries/Gado/Getty Images)

When it comes to having debt, it is no surprise that the United States is one of the biggest leaders. However most of the debt is somewhat seen as a strategic form of making one's country stronger. One major debt issue in the United States is student debt, but not for long.

The Wall Street Journal recently let out an article which really felt like it was light on the heart. Basically the title mentions how the United States is going to eventually forgive at least 108 billion dollars in student debt. This outstanding piece of information comes with quite the strategy.

Now the federal govenrment is directly involved in this because this problem is escalating quite a bit. As more people seek financial help for education, the generated revenue to fund higher education decreases. This got the GAO involved.

The GAO, or the Government Accountability Office disclosed a sum this wednesday when they talked about how much exactly the cost of all the programs cost. Earning shares were involved and eventually, forgiving of debt will be reached.

The entire loan program is over 1.2 Trillion Dollars and it works. In Summary, one asks for a loan, they get it. They then work it off after they graduate. Therefore the GAO said that even if over 100 Billion dollars in debt is forgiven, the program will still generate a profit to improve itself over and over.

This will be done in a very long and slow process of debt-relief programs. Fortune talks about this as well as they mentioned that these debt relief programs are to be worked with very slowly, chipping away for 10 to 20 years.

They mentioned that by the end of the 10 or 20 years the US would have forgiven at least $108 billion in debt and they will continue to make a profit.

© 2017 Enstarz, All rights reserved. Do not reproduce without permission.

  • SEARCH ENSTARS

Latest News

Harry Styles Gets Intimate With Fans

Harry Style Choose Intimate Venues For His Fans Rather Than The Usual Large Stadiums

Although the "Sign of the Times" hitmaker is used to monstrous stadiums, it was reported that he will get intimate with his fans this time.

Jennifer Lopez supported by Alex Rodriguez and Marc Anthony

Jennifer Lopez Receives Support From Ex-Husband Marc Anthony & New Man Alex Rodriguez: JLo's Billboard Latin Music Awards Performance A Success!

Apparently, Lopez is getting the support she needs from two men, her former husband Marc Anthony and new boyfriend, Alex Rodriguez.

United Airlines

Officers say United Airlines passenger David Dao's actions were violent

New updates from the recent United Airlines incident include the officials' statement saying the passenger who was removed from the plane had used violent actions towards them.

Melania Trump devastating story

Melania Trump Promised To 'Get Her Body Back' After Birth By Signing A Contract: Devastating Story Of The First Lady's Pregnancy

The first lady's pregnancy will surely meet the headlines once more as it involves a contract and "getting her body back" after birth.

United Airlines settle with Dr. Dao

United Airlines Provides 'Amicable Settlement' For Dao Incident

The controversial airline had already settled with the victim, Dr. David Hao, after the injuries and humiliation he has received.

Real Time Analytics