New Report gives light into the Biden Administration's Progress in Forgiving up to $10,000 in Student Loans
One of the hottest topics on Biden's shoulders...
Student loans continue to be an ever-pressing issue for Americans and the pressure is on the Biden administration. However, according to the Washington Post, President Biden is planning on canceling up to $10,000 in federal student loans per borrower.
According to the current plan, only those earning less than $150,000 in the previous year will be eligible for the forgiveness but even with this major step, no final decisions have been made. Biden wanted to make his announcement this Saturday during his commencement speech at the University of Delaware. But, due to circumstances such as the Uvalde Texas incident, that announcement has been put on hold.
Other sources have confirmed the drawing up of orders to cancel some student debts by White House officials but await Biden’s final say. The talks of Biden’s plan came to light as during a private White House meeting he told lawmakers he is willing to forgive tens of thousands of dollars in the student debt.
Loan payments and interest are scheduled to continue at the end of August after being put on pause during the Covid pandemic.