, was immediately denounced by Ohio Republicans, who questioned its legality and described it as a boon to the wealthy.from the top Republican on the U.S. House Judiciary Committee, Champaign County’s Jim Jordan. “Once again, Joe Biden forgets about Real America.”
Under Biden’s plan, the largest amount of loan relief -- as much as $20,000 per borrower -- will go to students who received Pell Grants, who typically come from families with yearly incomes less than $60,000. A White House fact sheet said Pell Grant recipients can experience more challenges repaying their debt than other borrowers. Borrowers who meet the White House’s income standards but did not get a Pell Grant in college can get up to $10,000 in loan relief.
“President Biden believes that a post high-school education should be a ticket to a middle class life, but for too many the cost of borrowing for college is a lifelong burden that deprives them of that opportunity,” the White House official said. “Larger student debt burdens make it harder for people to buy homes or put money away for retirement.
Biden is also announcing that the pause on federal student loan repayment will be extended one final time, through the end of 2022, with borrowers resuming payments in January 2023 It also said Biden will fight to make it free to attend community colleges, to double maximum Pell Grant amounts and will hold colleges accountable for rising prices by launching a new Department of Education effort to ensure student borrowers get value for their college costs.as chair of the Senate Committee on Banking, Housing and Urban Affairs, has called on the Biden administration to forgive “meaningful portions” of student-loan debt.
Horrible just horrible
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