USA Today: Is Student Loan Forgiveness Dead?

Earlier this year, the Biden administration successfully implemented a student debt relief program. However, loan forgiveness is now up against federal judges, and the administration is looking for other possible solutions should the original forgiveness program be eliminated.

With millions of Americans now feeling uncertain about whether their debt will be relieved, economic impacts will be widespread.

For many borrowers, diligently making the minimum monthly payments on their student loan debt does not yield any progress. In fact, the balance can continue to grow thanks to high interest rates. With ever-growing debts, younger generations will be less likely to invest in franchises given the initial capital requirements.

On the flip side, this uncertainty could work to relieve the labor shortages the franchising industry has been experiencing since 2021. Though circumstances are unfortunate, a lack of debt relief could very well drive younger generations to cut their education short and enter the workforce immediately. Some young professionals, though already established in their career jobs, are obtaining second and third positions in an effort to pay down debt.

Though franchisors may experience a decrease in interest in new franchise agreements, franchise networks as a whole may find more stability among existing units as a result of increased employee availability.

Read the full article at usatoday.com. Find related articles at forbes.com and businessinsider.com.