"Congress designed these programs to ensure that borrowers repay their loans, yet the Biden administration tried to illegally force taxpayers to foot the bill instead," Education Secretary Linda McMahon said.
Interest rates have not dropped as much or as quickly as some would like, leading many to put off buying a home. Fewer qualified buyers combined with sellers on a timeline often contributes to decisions about price reductions.
Businesses requiring flexible access to cash face penalties due to low interest rates, averaging just 1.54%. SMEs particularly struggle amidst the need for financial resilience.