President Biden Announces: Student Loan Debt Forgiveness
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This is great news for 45 million Americans with student loan debt. Since March 2020, as a result of the pandemic, there was a pause on the payments on federal student debts. This pause on payments and interest on most federal student loans is scheduled to end on August 31, 2022. President Joe Biden announced an “income-driven repayment plan,” giving debt relief to people earning less than $125,000. in the video published on Aug 24, 2022, “Biden announces arrangement for student loan debt forgiveness“, below:
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White House Press Secretary Karine Jean-Pierre, domestic policy adviser Susan Rice and National Economic Council deputy director Bharat Ramamurti answered questions on President Biden’s student loan forgiveness plan. Mr. Biden announced Wednesday he’s forgiving up to $10,000 in federal student loan debt for millions of Americans and an additional $10,000 for low-income borrowers, while also extending a pause on monthly payments until the end of the year, in the video published on Aug 24, 2022, “White House answers questions on Biden’s student loan forgiveness plan | full video“, below:
The move forgives up to $10,000 for people earning less than $125,000 a year or $250,000 for a couple. It also forgives up to $20,000 for low-income borrowers who received Pell grants, in the video published on Aug 25, 2022, “Biden announces student loan forgiveness plan | GMA“, below:
As a candidate, President Biden talked about erasing $10,000 in student debt. Some Democrats say that figure should be closer to $50,000. Payments that were paused during the pandemic could be due again soon, so we break down the debate around student loan forgiveness with Charlie Sykes and Nina Turner, in the video published on Aug 17, 2022, “Should President Biden Cancel Student Debt? Mehdi Hosts A Fiery Debate| The Mehdi Hasan Show“, below:
In a much-anticipated move, President Biden has signed an executive order Wednesday for student debt relief that could help more than 40 million borrowers by canceling up to $20,000 of their federal loans. Many advocates for canceling student debt say Biden’s plan doesn’t go far enough, while Republicans decry the plan as “student debt socialism.” We speak to Astra Taylor, writer, filmmaker and co-director of the Debt Collective, a union for debtors and one of the original advocates for a debt jubilee that would cancel all student debt. Despite the mixed reaction, “this is incredibly significant when you think about where we began as a movement not that long ago,” says Taylor, who also notes that debt strikes and the fight for full cancellation will continue, in the video published on Aug 25, 2022, “Cancel It All: Debt Collective’s Astra Taylor on Biden Plan & Need for Full Student Debt Relief“, below:
President Biden’s plan to cancel some student debt for millions of Americans is drawing praise but also criticism. Some say it goes too far while others say it doesn’t do enough to address the high cost of college. Sen. Elizabeth Warren joined Amna Nawaz to explain why she believes it’s a move in the right direction, but more could be done, in the video published on Aug 25, 2022, “Sen. Elizabeth Warren weighs in on Biden’s student loan forgiveness plan“, below:
ABC News’ Stephanie Ramos spoke with Education Secretary Dr. Miguel Cardona about Presi, in the video published on Aug 24, 2022, “Loan forgiveness ‘the right thing to do’: Education secretary on relief plan | ABCNL“, below:
The president will cancel student loan debt for many and extend the due date for others, in the video published on Aug 25, 2022, “Explaining Biden’s student loan forgiveness policy“, below:
With the freeze on student loan payments set to expire soon and pressure from Democrats to provide broader relief, President Joe Biden on Wednesday announced a wide-sweeping debt cancelation program in which many could get $10,000 forgiven — and even more for those with the greatest financial need, in the video published on Aug 24, 2022, “Student loan forgiveness: Biden’s plan explained“, below:
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