New Bill Proposes 0% Interest Student Loans
Now that President Biden's efforts to forgive student loan debt have been quashed by the Supreme Court, millions of borrowers will need to start making loan payments again. And after a multiyear pause, many are likely to struggle.
Part of the reason student loans can be so tough to pay off is that borrowers aren't just repaying the principal sums they took out -- they're also dealing with interest that accrues on their debt.
There are different repayment plans federal student loan borrowers can sign up for to make their monthly payments more manageable. But popular choices, like income-driven repayment plans and extended repayment plans, can result in extra interest that adds up over time.
Source Fool.com
