Since 1980, the total cost of both four-year public and four-year private college has nearly tripled. Student loan debt vastly outpaces personal credit card debt. Now, President Biden has announced student loan forgiveness for borrowers. But how did we get here? Why has this massive debt continued to accumulate for so many Americans, and is President Biden’s plan even going to work? Lauren Huntsman a Certified Financial Planner as well as a Certified Student Loan Specialist thoroughly explains how the student loan industry began where it went wrong, and the future of student loan debt after President Biden’s decision.
