Biden gives student loans
November 8, 2022
As Biden tweeted during his 2019 to 2020 campaign that “We should forgive a minimum of $10,000/person of federal student loans, as proposed by Senator Warren and colleagues.” This was during COVID crisis where Biden believed “Young people and other student debt holders bore the brunt of the last crisis. It shouldn’t happen again.” He also had a goal to “make sure everybody…gets $10,000 knocked off of their student debt.” “Instead of properly funding public colleges, many states have cut back their support,” said Biden. Biden’s concern was for those who graduate college yet still don’t have the opportunity to live at least a middle class life because of the stress of paying for student debt.
Later, on August 24 2022, Biden announced he would cancel up to $20,000 worth of federal student loans but only for those who qualify depending on current income. “Department of Education will provide up to $20,000 in loan relief to borrowers with loans held by the Department of Education whose individual income is less than $125,000 ($250,000 for married couples) and who received a Pell Grant.You can meet those income standards but did not receive a Pell Grant in college which can qualify you to receive up to $10,000 in loan relief.” It was also announced that any loans taken out after June 30 won’t be included in the relief. “The current student loan repayment pause has been extended a final time until December 31, 2022, with payments resuming in January 2023.”
This announcement has enraged plenty of civilians around the world. With plenty of others agreeing on Biden’s worldwide decision considering after the pandemic many people had struggles with money and jobs, so after Biden kept his promise it gave people hope. As far as the other percentage of people who disagree, their concern is taxes and having to pay for others responsibilities.