- TIME OUT with Alex and Aziz Ep. 02: Student Loan Forgiveness and Your Financial Journey Alex Escobar 10:23
Welcome to Screw The Stock Market with Alex Escobar and Aziz Yousuf, This is also the Second Episode of Time Out! Let’s join them as they discuss President’s Biden student loan forgiveness and your financial journey.
[00:18 – 04:22] President Biden’s Student Loan Forgiveness Increases Inflation
- President Biden’s student loan forgiveness is a recent news topic
- Republicans are upset about the policy, while Democrats are happy
- People who qualify for student loan forgiveness can receive up to $10,000
- Pell grants can also help reduce student loan debt
[04:22 – 08:50] Debt Reduction Means More Money to Spend
- Starting on September 1st, student loan payments will be frozen until December 31st, which means borrowers have more time to pay off their loans
- The Biden administration has said that this forgiveness is only temporary and will restart next year
- This news is good for borrowers because it reduces their debt to credit ratio and makes it easier to borrow money.
[08:51 – 10:22] Closing Segment
- Parting Words
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Tweetable Quotes:
“What happens when your debt is reduced? Now your debt to credit-ratio goes down, which means you can potentially borrow more money that you can use towards starting a business or apply towards, buying properties or other things.” – Aziz Yousuf
“Keep trying to find ways to build your wealth, keep learning, growing, and keep taking action.” – Alex Escobar
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