STORY OF THE WEEK: President Joe Biden announced Wednesday that borrowers earning less than $125,000 per year would see at least $10,000 of their federal student loan debt cancelled.
"His move could stoke turnout among young voters this fall who had soured on Democrats, who, in recent elections have appealed to young college-educated voters and young suburban families. A higher ceiling of $20,000 dollars in debt cancellation available to graduates from low-income families who used Pell Grants for college could energize minority voters in swing states.
That is partly due to the fact that they borrow more, on average, than white students, but also because black graduates with a bachelor's degree or higher earn an average of about $5,000 less than white graduates, according to the National Centre for Education Statistics.""...the administration also announced they are extending the student loan payment pause"one final time" through Dec. 31, 2022.
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