Student loan borrowers await Biden plan on debt forgiveness

has only heightened the anticipation for what his own aides acknowledge represents a political no-win situation. The people spoke on the condition of anonymity to discuss Biden's intended announcement ahead of time.comes just days before millions of Americans were set to find out when their next student loan bills will be due. This is the closest the administration has come to hitting the end of the payment freeze extension, with the current pause set to end Aug. 31.

. Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., had proposed cancellations of $50,000 or more.As he tried to shore up support among younger voters and prepare for a general election battle against President Donald Trump, Biden unveiled his initial proposal for debt cancellation of $10,000 per borrower, with no mention of an income cap.

Inside the administration, officials have discussed forgiving more than $10,000 of student debt for certain categories of borrowers, such as Pell Grant recipients, according to three people with knowledge of the deliberations. That remained one of the final variables being considered by Biden heading into Wednesday’s announcement.

“President Biden’s decision on student debt cannot become the latest example of a policy that has left Black people — especially Black women — behind,” he said. “This is not how you treat Black voters who turned out in record numbers and provided 90% of their vote to once again save democracy in 2020.

The Republican National Committee on Tuesday blasted Biden’s expected announcement as a “handout to the rich,” claiming it would unfairly burden lower-income taxpayers and those who have already paid off their student loans with covering the costs of higher education for the wealthy.Biden’s elongated deliberations have sent federal loan servicers, who have been instructed to hold back billing statements while Biden weighed a decision, grumbling.

The 81 million is shrinking daily

All BS!

Millions of middle & lower class HARDWORKING taxpayers, WHO EITHER PAID THEIR COLLEGE DEBTS OR COULD NOT AFFORD TO GO TO COLLEGE, will be paying for irresponsible folks who fail to honor their debt commitments. Hypocrite in action before elections. Definitely voting RED!

I just love paying for student handout loans for others when I paid my kids college and I myself COULD NOT AFFORD TO EVEN GO TO SCHOOL… WOW

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