Not knowing any students that have loans, I am unfamiliar as to the mechanism of borrowing. It seems that the student got a loan (from the government or from a third party backstopped by the government) paid the money to the institute of higher education. They incurred debt. Biden has forgiven them that debt. Who pays the lender back? Yes, I know that the taxpayers pay but what is mechanism? Is it dollar for dollar? Does the college bear any risk?
Last edit: 04 Oct 2023 13:37 by ramage. Reason: typo
