'It's an absolute insult': Advocates slam reported Biden plan to cancel $10,000 in student debt
The White House denied to CNBC that it has any set plans to forgive student debt and said it has not made a final decision.
"No decisions have been made yet — but as a reminder no one has been required to pay a single dime of student loans since the President took office," a White House spokesman told CNBC.and completely forgive the loans of about one-third of student loan borrowers. It's not clear how the relief would narrow with the income caps, although one analysis found that aroundTen thousand dollars in cancellation would be a slap in the face.Still, the average student debt balance is over $30,000, and more than 3 million borrowers owe more than $100,000."The average Black borrower has $53,000 in student loan debt four years after graduation, nearly twice the amount as their white counterparts," Johnson said, in a statement.
"Ten thousand dollars in cancellation would be a slap in the face," he said. "President Biden, it's not about whether you can do it; it's about whether or not you have the will to do it."How would $10,000 in student loan forgiveness impact you? If you're willing to share your story for an upcoming article, please email me at [email protected]
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hyundai To Invest $10 Billion In U.S. By 2025 To Grow Manufacturing And Innovation | CarscoopsHyundai To Invest $10 Billion In U.S. By 2025 To Grow Manufacturing And Innovation | Carscoops carscoops
Read more »
This Startup Raised $10 Million To Make The Lidar Version Of The iPhone CameraRed Leader says its lidar software beats the image quality of hardware vendors like Velodyne and Luminar.
Read more »
6 charged in $10 million recycling fraud scheme that brought 9 tons of cans, bottles to California for CRV redemptionRECYCLING FRAUD SCHEME: 6 people have been charged with recycling fraud and grand theft for allegedly driving more than 9 tons of bottles of cans from Arizona to redeem them for cash in Los Angeles and Ontario.
Read more »
President Joe Biden Preparing To Make Announcement On Student Loans: ReportsBiden is preparing to announce his plan to forgive up to $10,000 of student debt for those who qualify based on their income, according to The Washington Post.
Read more »
'Progress': Biden cheers April inflation numbers but concedes 'more work to do'The White House appeared to sigh with relief after the release of data suggesting inflation eased in April, but President JoeBiden stressed he understood the continued pressures on household budgets.
Read more »
Parents demand answers on police response in Uvalde shooting; Biden plans visit to honor victimsPresident Joe Biden and the first lady will travel to Texas on Sunday to pay tribute to the 21 victims shot and killed at an elementary school in Uvalde.
Read more »