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.Biden’s plan builds on $32 billion in targeted student debt forgiveness his administration has enacted for certain groups of borrowers. Much of that went to borrowers who say they were defrauded by for-profit colleges.
Tweeted Rep. Pramila Jayapal, the chair of the House Progressive Caucus: “This will bring real relief to 43 million people and is a MASSIVE step in the right direction.” Biden narrowed his campaign promise in recent months by embracing the income limit as soaring inflation took a political toll and as he aimed to head off political attacks that the cancellation would benefit those with higher take-home pay.
Or….are we just anointing kings in this country now?🤷🏼♂️
Can he unilaterally do it? Will it have to go through Congress?
Once again screwing Vets
You mean thru elections?
Who is going to pay for these loans? The students are off the hook, but the debt is still there, so who do you suppose is going to have to pay that? Well, of course the “American public” and middle class will pay that back. Thank you for looking out for us, Joe!
So government backed the majority of the loans. What fools allowed this to happen? Congress that's who.
Biden needs votes- wait until everyone understands the Recession is upon us
Misinformation
Crazy idea here… how about free education for teachers, educators, nurses? The government was just begging for more help from these professions a year ago. Teachers should be a sought after profession that makes way more then they do now! They’re treated like babysitters now!
The worst
I went to school using student loans. Back then my interest rates were in the mid 7’s. I worked for years and years to pay them off. Paid a ton in interest as not all we’re subsidized. Where do I sign up to get my 10,000 for my loans that I took accountability for?
this is criminal
If most Fed student loans with little to no int rates were auctioned off to private financial institutions with modest to marginalized int rates; how can 10k loan forgiveness pay down the principle of students debt versus paying down interest rates accrued by financial debtors?
What a major waste of money.
Way to go Joe!POTUS
Shaving off a piece of interests
I would have made a big profit with this student loan debt forgiveness when I had my loan back in the 80’s. Kids today don’t have it as easy as we did.
how can a president give away so much money without approval from congress? I am an Independent and am ready to impeach him too....
POTUS DOES NOT have the authority to forgive student loan debt, he is abusing the power of the office of President.
you saddled our grand and great grandchildren with this debt, you have 20% of Ukraine so called aid so it doesn't make s difference to you. you are the worse president ever 💩💩💩💩💩🤡🤡🤡🤡🤡🤡🤡
How soon does this take effect? 👀👀