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Finance expert reveals what Biden ‘is not saying’ about new student loan repayments

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Biden's new SAVE student loan repayment plan could take up to 30 years before borrowers see 'forgiveness at the end of the rainbow,' says Ramsey Solutions' Jade Warshaw.

'The Ramsey Show' co-host Jade Warshaw explains how U.S. student loan borrowers will wait up to 30 years to become debt free under Biden's new handout plan.

"They're really pulling the wool over people's eyes because they go: oh, there's forgiveness here, I don't have to pay my loan," Jade Warshaw, "The Ramsey Show" co-host, said on FOX Business' " Borrowers could see their monthly payments go to zero dollars, be cut in half, or those who do make payments may save up to $1,000 per year, the White House said in a statement."If you have $12,000 of student loan debt, that's the bar getting into this and you're going to have to pay for 10 years in order to see that forgiveness. And then for every additional thousand, you pay another year," Warshaw explained.

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