Activists demonstrate outside an entrance to the White House calling for the cancellation of student debt in Washington, U.S., April 27, 2022. REUTERS/Evelyn HocksteinNEW YORK, Aug 24 - Americans are getting some student-loan forgiveness, but the plan only deserves a C grade. U.S. President Joe Bidento forgive a fraction of the nearly $1.6 trillion in debt issued by the government to cover higher-education costs.
The relief announced on Wednesday falls short of progressive Democratic goals, but Biden has questioned why only college attendees should be helped with their debt. His programof up to $10,000 in student loans for individuals who earn less than $125,000 a year and twice as much for recipients of a need-based grant.
For two years, student borrowers have benefited from a grace period. A pandemic-relief effort paused repayment requirements and interest hasn’t accrued since March 2020. Biden is also extending these provisions until the end of 2022. The assistance alone has cost taxpayers some $45 billion, according to the U.S. Department of Education.The new package has three main gaps. More than two-thirds of relief goes to the top 60% of earners, per a new University of Pennsylvania.
College tuition and other fees have soared, but they also go a long way. The average four-year U.S. degree, including lodging and food, increased nearly 11% over the decade through the 2020-2021 school year, the
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Student loan forgiveness: Biden unveils plan to cancel $10K in student debtBiden unveiled a plan to provide $10,000 of federal student loan debt relief for borrowers who earn under $125,000 annually, and more for those with the greatest financial need. Even his detractors and haters that have SLs will benefit from this I think this is good 😊 👍
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Biden announces student loan debt relief planU.S. President Joe Biden said on Wednesday his administration would forgive student loan debt for many borrowers and would extend a pause on student loan repayments until Dec. 31 of this year.
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What student loans are eligible for forgiveness? Here’s a breakdownWith news of President Joe Biden’s student loan forgiveness plan, in which up to $20,000 of student federal loan debt may be forgiven, many likely have questions about eligibility. More free shit. Absolutely sickening! Wide sweeping? U crazy!! Only lazy students get the money. Those of us who actually worked and paid for college get nothing but a higher tax bill. Anyone who thinks adding 300 billion of free loan forgiveness during the highest inflation in 50 years needs their head examined
Source: FOX26Houston - 🏆 448. / 53 Read more »
Biden is canceling up to $10K in student loans, $20K for Pell Grant recipientsOn Wednesday, President Biden announced an effort to forgive some federal student loan debt for qualifying borrowers. Biden also extended the federal student loan payment pause through Dec. 31. A horrible give away aimed at “buying” votes.
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The government’s student loan sites are crashing after debt relief announcementCrushed by the rush of people checking their eligibility They don’t realize it’ll be a tax write off…lol. The government isn’t gonna be mailing $10k checks to people Only for low to mid class civilians.
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Biden is expected to make announcement on student loan relief on WednesdayIt's not yet clear what he'll announce. The pause on student loan payments is currently scheduled to end on Aug. 31.
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