President Trump has offered to forgive some student loan debt as part of a new $1.8 trillion stimulus proposal to House Democrats, indicating how rapidly the idea of cancelling student debt has gained broad, bipartisan appeal.
Trump’s latest attempt to revive stimulus talks comes after he abruptly pulled the plug on congressional negotiations last week. The administration is now proposing that $25 billion of the $1.8 trillion package be dedicated to student loan forgiveness. This figure represents only a tiny fraction of the estimated $1.7 trillion in total outstanding student loan debt, indicating the effort would have a small impact if enacted. The administration did not make clear how it proposes to allocate the $25 billion, nor did it specify who would be eligible for student loan forgiveness.Forbes Trump Includes Student Loan Forgiveness In Latest Stimulus Proposal, Signaling Its Broad Appeal