Sanders' student debt forgiveness plan could give 100x as much to future lawyers, execs and doctors

[highplainsdem]

10. Biden's plan would allow student debt to be discharged in bankruptcy.

https://www.democraticunderground.com/1287443786


https://joebiden.com/beyondhs/

Crack down on private lenders profiteering off of students and allow individuals holding private loans to discharge them in bankruptcy. In 2015, the Obama-Biden Administration called for Congress to pass a law permitting the discharge of private student loans in bankruptcy. As president, Biden will enact this legislation. In addition, the Biden Administration will empower the Consumer Financial Protection Bureau – established during the Obama-Biden Administration – to take action against private lenders who are misleading students about their options and do not provide an affordable payment plan when individuals are experiencing acute periods of financial hardship.

That's for private loans.

He's also recommending a plan to forgive $10,000/yr in student loans, for up to five years, for public service, and with automatic enrollment in the plan.

And of course federal loans are forgiven after 20 years.

So I'm guessing your friend -- who has my sympathies -- has mostly private loans.