The Government Accountability Office has announced that they’ll be forgiving a massive amount of debt in the coming years.

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The plan, which forgives repayment plans that are repaid with available ability to funds, will allow students and people who have been saddled with inevitable debt in a college-education required world to get out from the repayments that would otherwise follow most into their 40s and beyond.

Currently, the plans have attracted 5.3 million borrowers holding an accumulated $355 Billion of debt, which amounts to around $70,000 a person.

What this means for the taxpayers remains to be seen, but there could be a future burden due to the plan, according to Fox News, and there might be some hope in removing that burden due to President-elect Donald Trump’s plans for the reduction of student debt.

This plan could mean a lot of really big things for American citizens.

Government expected to forgive $108 billion in student loan debt Fox News Screemshot
Stephen Fasulo About the author:
Stephen Fasulo is a student at the Catholic University of America where he is working on his B.A in English. He is from Hollis Center, Maine.
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