Student loans: Biden could announce $10,000 student loan forgiveness as soon as Wednesday

The plan has not been finalized and it subject to last-minute revisions, according to the report. It is similar to earlier White House proposals, though Biden had previously backed an income cap of $150,000.

Repayment of student loans has been on hold since March 2020, the start of the COVID pandemic. It’s been extended several times but is set to expire Aug. 31, meaning millions of borrowers could find themselves again making monthly payments on Sept. 1. CNN is reporting the White House is expected to address the pause in the coming days.

President Biden is planning to make the announcement tomorrow. Hopefully, the President will answer all questions and concerns.

I'm ok with at least some debt forgiveness but the issue still stands that college education is far too expensive with too little return. People wouldn't borrow so much if tuitions were lower.

This is just wrong if you take the money pay it back It seems everyone wants something for nothing

So people making six figures get a $10k windfall. What about the working men and women who didn’t go to college? Where is their windfall?

How does he have the authority to do that? You borrowed the money, PAY IT BACK!!

What about parents that did with out to pay the tuition, what do they get ? It has gotten to where its more profitable to just sit and do nothing than to work.

You borrowed the money, pay it back. Worthless bums.

Sweet...more inflation tax for the poor!

Why? It is a half measure that angers the left for its cowardice but still makes the right rage. If we can bail out Wall Street and forgive PPP loans (averaging over $90,000) we can forgive 100% of student debt.

idk if i can even call this a half measure, more like a 1/8 measure. cancel all existing, and hard cap interest rates permanently

Just keep giving away money in a recession. What could possibly go wrong?

Shame. I made way less than that after college and had to pay all mine back. I agreed to the debt, so I was responsible for paying it back.

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Student loans: Biden administration leaning toward canceling some loan debt, sources sayThe current student loans pause is set to expire soon. All college loans should be forgiven & all colleges should be free.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »

Facing deadline, White House decision on student loans loomsThe White House is leaning toward forgiving up to $10,000 in student loan debt for individuals making up to $125,000 annually. Do it already we pay for other people not to work and sleep all day. I don’t mind paying to better educate people in this country
Source: kgun9 - 🏆 584. / 51 Read more »

Biden aides 'talking daily' about student loans, expect decision soon: Education Secretary CardonaBeyond the pause in loan payments, the Biden administration has been under pressure from some Democratic lawmakers and student loan activists to forgive up to $50,000 in student loans. I still think $50,000 is ridiculous. I'll be happy if he pauses payments again and then sets up a better system of repayment options in the meantime. Sorry folks it’s not going to happen. You aren’t going to be rewarded for your negligent financial decision.
Source: USATODAY - 🏆 100. / 63 Read more »