He was set to deliver remarks Wednesday afternoon at the White House to unveil his proposal to the public.
Biden has faced pressure from liberals to provide broader relief to hard-hit borrowers, and from moderates and Republicans questioning the fairness of any widespread forgiveness. The delay in Biden’s decision only heightened the anticipation for what his own aides acknowledge represented a vexing set of political and policy choices. The people spoke on the condition of anonymity to discuss Biden’s intended announcement ahead of time.
“The positive impacts of this move will be felt by families across the country, particularly in minority communities, and is the single most effective action that the President can take on his own to help working families and the economy,” said Sen. Elizabeth Warren on Wednesday in a joint statement with Senate Majority Leader Chuck Schumer.
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. “Today’s announcement is an insult to every American who played by the rules and worked hard to responsibly pay off their own debt,” Sen. John Barrasso, chair of the Senate Republican Conference, said in a statement.
Give us all 20k
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Biden student loan plan: $10,000 forgiven, $20,000 for Pell Grant recipientsBiden is also extending a pause on federal student loan payments for what he called the “final time” through the end of 2022.
Source: FOX10News - 🏆 581. / 51 Read more »
Biden student loan plan: $10,000 forgiven, $20,000 for Pell Grant recipientsBiden is also extending a pause on federal student loan payments for what he called the “final time” through the end of 2022. Where's my freakin refund I payed my student I didn't get a handout. Your just trying to buy votes Biden. While you create a spoiled generation of young people. Your just a junky president. I'm eligible! 😐. Wish i did make that or more...
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Biden to announce $10K federal student loan cancellation for many, extend repayment pause: sourcesPresident Joe Biden on Wednesday is set to announce his long-delayed move to forgive up to $10,000 in federal student loans for many Americans and extend a pause on payments to January, according to three people familiar with the plan.
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Biden canceling $10,000 in student loan debt for most, extending payment pauseBREAKING NEWS: President Biden announces he is forgiving up to $10,000 in federal student loan debt for millions of Americans and an additional $10,000 for low-income borrowers while extending a pause on monthly payments. He’s a riot , isn’t he? How many votes was he secured from this purchase?
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Biden announces $10K federal student loan cancellation for many, extend repayment pauseBiden announced that borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness. Should be 100k All this does is incentivize irresponsible behavior by those who chose to take out a loan and then chose not to pay it off The only people who should be held accountable for this debt is those who willingly took on the debt This effectively punishes those who acted responsibly
Source: abc7newsbayarea - 🏆 529. / 51 Read more »