Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000forgiveness, Biden announced in a tweet. For recipients of Pell Grants, which are reserved for undergraduates with the most significant financial need, the federal government would cancel up to an additional $10,000 in federalpayments for what he called the “final time” through the end of 2022.
The action drew praise from a wide spectrum of Democrats, but appeared unlikely to completely appease any of the factions that have been jostling for influence as Biden weighs how much to cancel and for whom. The Biden administration plan would also raise the income floor for repayments, meaning no one earning below 225% of the federal poverty level would need to make monthly payments.
The Justice Department released a legal opinion on Wednesday concluding that the Higher Education Relief Opportunities for Students Act gives the Education secretary the “authority to reduce or eliminate the obligation to repay the principal balance of federal studentdebt.” The legal opinion also concluded that the debit could be applied on a “class-wide” basis in response to the coronavirus pandemic. Still, some conservative groups were considering potential legal challenges.
A survey of 18- to 29-year-olds conducted by the Harvard Institute of Politics in March found that 59% of those polled favored debt cancellation of some sort - whether for all borrowers or those most in need - although studentRepublicans responded swiftly to Biden's decision on student debt relief Wednesday, calling out the administration for “selling out working families” to appease to the progressive wing of the party.
Resign
He is bribing the American people to vote for him with their own money. He's buying votes $10,000 a piece. Watch what will happen in 2024. Just like every other liberals, it's a waste of money
Biden transferred the student loan to those who paid their loan and others who chose a different path than going to uni/college
Heck ya, another reason why USA is way better then Canada, I wish we had a leader even half as good as Biden
So, do the students who payed back their loans get a refund? More debt & inflation for everybody else.
Transferring that debt burden to people who were responsible enough to pay off loans, or were unable to get them in the first place is a terrible idea.
You're enabling students to lack responsibly and money management. I paid mine fully back. I didn't blow it. In fact I made it work for me. We got dummies getting degrees. Replies ignored
mid term bribes.
I just hope universities and college give the kids the day off to get out and vote 🤞...🤣🤣
I'm so grateful I was able to party hard for four years, burn through thousands in loans with no part time or full time summer jobs and now the rest of you can pay for it lol.
buying votes.....lol....all they do is try tuy back votes their useless demented puppet leader has cost them, easier than fixin the high crime/inflation issues or esp the border issue
Arts degrees that cost 100k ending up with 30k.paying jobs do the maths . Nothing ever adds up
Transfering the burden of the debt from the person who took out the loan, onto the people who didnt take out the loan
Wheres Trudeaus free handout?
lazy people must be all libs
Wild
Interesting plan to stop inflation.
Of course, it is about time to buy some votes... So all the students that paid off your loans, Suckers ha, ha, ha... Well no you kept your word and fulfilled your contract. Good for you.... How about maybe raining in the loan sharks and their admin and late penalty fees?
Ya and who you think will pay for it?🤦♂️🤣🤡🤡🤡
The concept of a loan is so simple. Borrow money than you PAY it BACK!
More inflation, here we come!!!
Less than 125k US earnings and you qualify for 10k credit. The poor and those who couldn’t afford university(and didn’t attend) are paying this. WTF
Who cares if they dont really care, when your in crippling debt it doesn't matter why the debts forgiven you simply care that you can breathe again
How can debt just disappear? Doesn't someone have to pay for it? Sorry american tax payers have fun with this one. 🙄🙄🤪🤪🤪
just in time to buy some votes, the usual left tactics.
Pay your own debts, comrade.
There is nothing like forcing other people to pay for your Gender Studies or Liberal Arts Degree courses all in an attempt to buy votes. My guess it will backfire.
They're doing it because its a few weeks out from midterms, not because they care.
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