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How student loans stack up in S.C.

Staff Report //April 9, 2021//

How student loans stack up in S.C.

Staff Report //April 9, 2021//

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Source: Education Data LLC, U.S. Department of Education, U.S. Census Bureau

 

Student borrowers in South Carolina carry the sixth-highest average debt load among all 50 states and Washington, D.C., a recent analysis by EducationData.org LLC of U.S. Education Department and Census Bureau data shows.

Student loan forgiveness has been a hot topic for more than a few years, but the subject received a political push in the latest pandemic stimulus bill. Inside the law passed by Congress and signed into law by President Joe Biden is a provision that allows for any student loan forgiveness to be considered tax free.

Now, it’s not clear if Congress will forgive any student loan debt. Biden has been pushing lawmakers for $10,000 in forgiveness, but some Democratic House members have been urging Biden to write an executive order wiping away $50,000 for each indebted student. So far he has refused to do that, urging Congress to act instead. The numbers aren’t small. News and information website Vox reported that 45 million students in America currently owe $1.7 trillion in student loans combined. That’s an average of $37,777 per student, which is $523 lower than the average student loan in S.C.

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Source: Education Data LLC, U.S. Department of Education, U.S. Census Bureau

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