Biden Scrambles To Buy Votes With New Taxpayer-Funded Student Debt Relief Scheme After American borrowers adjusted their finances amid the mass-suspension of student loan payments during the pandemic (and the scorching inflation that followed), the Biden administration on Monday announced new student loan plans that would give borrowers up to $20,000 in loan forgiveness for balances that have grown due to unpaid interest since entering repayment, regardless of income. The plan is...
By DARLENE SUPERVILLE and COLLIN BINKLEY Associated Press WASHINGTON (AP) — President Joe Biden is traveling to Wisconsin to announce details of a new plan to ease student loan debt for millions, a trip that comes a week after primary voting in the Midwest battleground highlighted weaknesses for the Democratic president and Donald Trump, his
You may have noticed over the last few days that the political world is in an uproar over President Biden's dispensing of student debt relief. It's not so much that Biden implemented the relief program at all; what got politicians and pundits in a tizzy was that he called out the GOP naysayers in the House by pointing out that many of them had received business loans via the pandemic-era Paycheck Protection Program, or PPP, that had never been paid back. The White House tweeted out the forgiven...
After months of hearings and negotiations, the Biden administration announced its latest plans Monday for student debt relief, proposing changes that would save about 30 million borrowers billions of dollars in total. The plans aren't as sweeping as the across-the-board loan forgiveness of up to $20,000 per borrower that Biden ordered in 2022, a measure the Supreme Court threw out last year. But they go further than what the administration proposed in the wake of the justices' ruling, offering...
WASHINGTON — President Joe Biden announced Friday that his administration is canceling $7.4 billion in student loans for 277,000 borrowers. The White House said the latest round of relief helps borrowers enrolled in the Saving on a Valuable Education (SAVE) repayment plan as well as those in Income-Driven Repayment or Public Service Loan Forgiveness plans. On the SAVE plan, an income-driven repayment plan that took effect last summer, the new policy will allow those who took out smaller loans...
President Biden is pushing forward with plans for “life-changing” student debt relief as he courts young voters amid signs that the critical voting bloc could turn away from his party or simply sit out in November. A new NPR/NewsHour/Marist Poll released last week found former President Trump up 2 points over Biden among millennial and Generation []
President Joe Biden on Monday announced revised plans to cancel federal student debt that along with other actions would benefit millions during a visit to Madison, Wisconsin. Biden’s new plans are aimed at canceling runaway interest for millions of borrowers; nullifying debt for those who are eligible for but not yet participating in certain forgiveness programs, such as those in public service who've been paying off their loans for 10 years or more; borrowers of undergraduate or graduate loans...
The Biden administration on Monday announced new student loan plans that would provide relief to millions of Americans if finalized.
Biden's New Student Debt Relief Will Add Up To $750 Billion To The Budget Deficit By The Committee for A Responsible Federal Budget The Biden Administration recently announced a new plan to cancel student debt for up to 30 million borrowers and released a preliminary rule this morning detailing parts of this plan. The proposal, which is being introduced through the rule making process, would replace the Administration’s initial proposal to cancel between $10,000 and $20,000 per...
Yuval RosenbergApril 11, 2024President Joe Biden’s new student debt relief plans are projected to cost $84 billion if enacted, according to the
Buying Votes: Biden Cancels Student Debt For 277,000 Borrowers Ahead Of Presidential Elections On Friday, President Joe Biden announced that he would cancel the federal student debt of more than 277,000 Americans, equating to about $7.4 billion. This would bring the total of what is considered classical vote buying ahead of the November presidential elections to more than $153 billion, or forgiving the debt of 4.3 million people. The majority of the 277,000 Americans who were...
Here's how you can take advantage of forgiveness through SAVE if you haven't already.