Student Loan Debt Forgiveness Is Happening, Cardona Says

The video discusses the growing issue of student debt in the US, highlighting the temporary pause on payments and ongoing discussions about debt cancellation. It outlines strategies implemented by the Department of Education to address these issues, including loan forgiveness and support programs like Fresh START. The economic context is considered, with a focus on helping borrowers transition back to repayment. The video concludes with a discussion on future challenges and the need for continued support to prevent economic damage.

What is the fastest growing category of debt in the United States?

• Credit card debt

• Student loan debt

• Mortgage debt

• Auto loan debt

What is one of the strategies mentioned to improve the return on investment with colleges?

• Reducing student enrollment

• Increasing tuition fees

• Offering more scholarships

• Higher accountability

How much in loans has been forgiven according to the transcript?

• $10 billion

• $17 billion

• $25 billion

• $30 billion

What is the purpose of the Fresh START program?

• To provide new loans to students

• To eliminate all student debt

• To increase student loan interest rates

• To help borrowers with default or delinquent payments

What economic factor is mentioned as improving in the transcript?

• Inflation rates

• Stock market performance

• Job growth

• Interest rates

What is a concern mentioned about the resumption of student loan payments?

• Increased interest rates

• Decreased loan availability

• Potential economic damage

• Borrowers having excess funds

What is the role of policy in predicting future behavior according to the transcript?

• To reduce government spending

• To increase government revenue

• To predict economic downturns

• To predict future behavior