President Joe Biden is expected to announce Wednesday that many Americans can have up to $10,000 in federal student loan debt forgiven. Details of the plan are still being finalized.
Three people familiar with the plan say it will forgive up to $10,000 in student loan debt for anyone who makes less than $125,000 a year. They spoke on condition of anonymity to discuss details of the plan before it is announced. Some categories of borrowers could be eligible for more relief, but that was still being discussed.Those same people say the pause on student loan payments will be extended until January.
Interest rates will remain at 0% until repayments start. Under an earlier extension announced in April, people who were behind on payments before the pandemic will automatically be put in good standing.Details are yet to be announced, but only people making less than $125,000 a year are expected to qualify. People who borrowed through most federal student loan programs are likely to be eligible, while those who have private loans issued by banks or schools probably won't be.
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Biden's student loan plan: What we know (and what we don't)President Joe Biden is expected to announce today that many Americans can have up to $10,000 in federal student loan debt forgiven. Here's what we know so far and what it means for people with outstanding student loans. It means the responsible will be paying for the irresponsible. The US could get more bang for the buck if it paid debts based on not the face value but what the holders of the debt paid. Why? Because most student loans are resold in'tranches' at cents on the dollar. If someone paid $1k for a 10,000, pay the $1k, wipe out $10,000! Congrats to every worker busting their ass in the the ship channel, truckers, and other blue collar gigs to fund someone’s gender studies degree. Elections have consequences.
Source: HoustonChron - 🏆 609. / 51 Read more »
Biden’s student loan plan: What we know (and what we don’t)President Biden is expected to announce that many Americans can have up to $10,000 in federal student loan debt forgiven. biden debtforgiveness studentloans kprc2 click2houston US JoeBiden & TheDemocrats are in serious trouble and gas lighting themselves So I worked so hard to pay off my college tuition, just so lay fucks can get a hand out 🤔. I wonder if I’ll get 10k back at least Just remember, forgiven and cancelled are code words for transferred to taxpayers. In other words, if you are a taxpayer they are going to make you pay the debt for these deadbeats.
Source: KPRC2 - 🏆 80. / 68 Read more »
Biden’s move to cancel student debt would cost more than $300 billion, study says“Simply extending the current repayment pause through the end of the year would cost $20 billion — equivalent to the total deficit reduction from the first six years of the IRA, by our rough estimates.” You're ignoring the benefit of people having more money to pump into the general economy.
Source: WashTimes - 🏆 235. / 63 Read more »
Chuck Schumer begged Joe Biden to boost student loan forgiveness: ReportBiden is expected to announce a plan on Wednesday to forgive $10,000 in debt for Americans with federal student loans who make $125,000 per year or less. What about mine from 1996? I paid them off making $24k a year The democrat world. Dems and pedo joe are better at creating fear by using the FBI, IRS and every agency to intimidate the American people.
Source: Newsweek - 🏆 468. / 52 Read more »
White House Considering $10,000 in Student Loan Forgiveness for Borrowers Who Make Under $125,000: ReportPresident Joe Biden has promised to make a decision on student loan forgiveness by the end of August, when monthly loan payments are set to resume.
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Student loans: Biden could announce $10,000 student loan forgiveness as soon as WednesdayEligible borrowers would include those with federal Direct Loans, FFELP Loans, Perkins Loans, Parent PLUS Loans and Grad PLUS Loans. Borrowers with private loans would be excluded. 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. 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
Source: aldotcom - 🏆 82. / 68 Read more »