According to a Fox Business report, President Biden is set to unveil another round of student loan handouts; it will affect more than 30 million Americans — and possibly votes — prior to Election Day.
The court has struck down multiple versions of Biden’s plans for a student loan bailout, and 11 Republican-led states filed a lawsuit against the version he announced in February. The new Biden plan is expected to affect up to 30 million Americans, who will see sizable portions of their student debt slashed before the November election, according to the Wall Street Journal.
Biden is scheduled to unveil the plan during a public event in Wisconsin on Monday.
The plan’s central pillar focuses on cutting loans that have exceeded their principal amount due to interest. It would cut up to $20,000 in accrued interest while borrowers who make less than $120,000 or couples who make less than $240,000 would be allowed to cut all of their accrued interest beyond the principal amount, WSJ reported.
The result would see roughly 23 million Americans having their loans cut down to the principal amount.
The plan would further cancel debt for borrowers who have held onto their loans for decades without fully paying them off. The forgiveness would apply to any undergraduate debt lasting more than 20 years and any graduate debt lasting more than 25 years, according to WSJ.
Impeach the idiot already. Enough already!
How can you impeach an non-existent president?
Hopefully that money will go to the poor downtrodden migrants that broke into this racist country illegally. They deserve every penny.
Somehow all these waves of debt forgiveness and they haven’t touched mine yet.
P.s. to the frum program that charged $60,000+ for an MSW with the promise of job placement: you dropped the ball and left many of us high and dry both when it came to job placement and with regards to guidance on student debt.
I’m far from the only one who felt abandoned by you. I’m glad that up and coming frum therapists have a different, better, cheaper option now. I hope that their expedited PSY D program doesn’t leave all of us LCSWs out of jobs.
What’s wrong?
Student debt is highway robbery. It puts this entire in debt before they start.
If you need a certification to get a job, tuition should be monitored by the government.
We get zero from public school, let’s at least get higher education.