Two Florida lawmakers, a Democrat and a Republican, are working together to cap federal student loan interest rates at 3%, aiming to provide relief to millions of Americans burdened by debt. The bill has garnered bipartisan support, with both lawmakers expressing optimism about its potential to pass even in an election year.
First Lady Jill Biden delivered a commencement address at Mesa Community College in Arizona, where she called for community college education to be “free in America.” Her remarks come as the Biden administration faces scrutiny over its policies on student loan forgiveness and the rising national debt. Biden’s proposal for free community colleges was part of her husband’s 2020 campaign platform, but has not gained traction in Congress or the courts.
Gain financial freedom and navigate the complexities of money with these comprehensive financial literacy books. From budgeting basics to wealth-building strategies, these books provide valuable insights to improve your financial well-being.
Graduates from post-secondary schools in Nova Scotia and Prince Edward Island face some of the highest student loan debt in the nation. According to Statistics Canada, the average debt for Nova Scotia college graduates was $18,100 and $39,100 for bachelor’s degree holders. In Prince Edward Island, students repaying an average of $43,500 after completing a bachelor’s degree program. Despite the drop in the proportion of students with debt, the average amount owed has increased significantly since 2000.
