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A $1.2 Billion Bailout Isn’t the Answer | State Treasury of Mississippi
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Newsroom A $1.2 Billion Bailout Isn’t the Answer This February, President Biden announced he will be forcing taxpayers to foot the bill for another $1.2 billion in student loan cancelations. This is wrong. Mississippians who have paid off their debt or chose not to attend college shouldn’t be responsible for paying other people’s collegiate bills. It’s as simple as that. Of course, there’s no denying that student debt is a problem in the United States. As of mid-2023, Americans held about $1.77 trillion in student loan debt. Mississippians are not immune to it either. In fact, we rank 10th in the nation for the highest amount of student debt, with the average borrower holding about $45,000 worth. In a state where the average household income is just $46,000 a year, that amount of debt can be devastating. But forcing the 86 percent of Mis...
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