Forgive Me Not: Student Loan Relief Recipients Still in Debt

Episode Transcript

Speaker 1 (00:00):
A study of borrowers who had their student loans forgiven
finds they have since added more debt from credit cards,
auto loans, and home loans, and their credit scores failed
to improve. Financial strategist Mitch Kramer says giving borrowers an
easy way out only encourages more borrowing.

Speaker 2 (00:14):
Look in, anybody in life has had tremendous adversity, there's
been a growth experience on the other side of it.
If you don't reward people for paying back debt, you're
basically condoning behavior for them to be financially irresponsible.

Speaker 1 (00:25):
Despite Biden's forgiveness of more than a billion in student debt,
in America's total household debt burden has risen to an
all time high. Corey Jolson, who's Radio seven forty ktrh