Comment on Millennials are watching monthly student loan payments skyrocket from $500 to $5000 under Trump: This will ‘crash the economy’

• Knock_Knock_Lemmy_In@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

  The article says the loan costs have increased and gives lots of examples.

  It doesn’t explain why the increases have happened.

  source

  • MetaCubed@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

    Try again. It’s the 4th paragraph.

    Last month, a federal judge blocked the Biden administration-era SAVE plan, an income-driven student loan replacement program with 8 million borrowers, claiming it lacked the authority to forgive millions of dollars in debt. In response, the Trump administration paused all applications for income-driven repayment plans and online loan consolidation, leaving some borrowers in limbo struggling to make ends meet.

    source

    • Knock_Knock_Lemmy_In@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      But that’s new applications. It doesn’t explain why existing loans have increased.

      source
  • Hiro8811@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

    Maybe cause of the 5trilion the US market has lost?

    source

    • Knock_Knock_Lemmy_In@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      I don’t see the connection between the stock market falling and student loans being more expensive.

      source