President Joe Biden says a decision on student loan forgiveness is coming within weeks. Here's where he stands:
made earlier this week by Senate Majority Leader Chuck Schumer that Biden was seriously considering cancelling $50,000 or more in student loan debt.
Biden did not specify an exact amount of student loan forgiveness that he is considering, although clearly it would be under $50,000. He also did not address rumors that he is considering“I am in the process of considering whether there will be additional debt forgiveness, and I’ll have an answer on that in the next couple of weeks,” he said.
Biden has consistently said he would support $10,000 in student loan forgiveness for borrowers. This would completely eliminate the student debt for nearly 9 million people — roughly one in five borrowers, the Center for American Progress. Cancelling $40,000 in student debt for every borrower would completely wipe out the student loan debt for 35 million people, representing nearly four in five borrowers.While Biden clearly indicated that some form of broad student debt cancellation is on the table, he also noted that his administration has already implemented billions of student loan forgiveness for hundreds of thousands of borrowers.
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.
Biden blues: New book says Obama is jealous of presidentIn public, former President BarackObama and President JoeBiden exhibit a deep bond, but behind the scenes, their rapport is fraught with tension, according to a new book.
Read more »
President Joe Biden to Travel to TroyOn Tuesday, May 3, the President will travel to Alabama to visit a Lockheed Martin facility which manufactures weapon systems such as Javelin anti-tank missiles
Read more »
President Biden to visit Alabama next weekPresident Joe Biden has scheduled a trip to Alabama, according to the White House.
Read more »
Biden to hold summit with incoming S.Korean president on May 21-YonhapU.S. President Joe Biden will visit South Korea from May 20 to May 22 and hold a meeting with the country's newly-elected President Yoon Suk-yeol on May 21, Yonhap news agency reported on Thursday.
Read more »
President Biden appoints Dr. Ala Stanford as DHHS regional directorIn her new role, Dr. Ala Stanford will lead the Region III, which serves Pennsylvania, Maryland, Delaware, West Virginia, and Washington, D.C.
Read more »