President Joe Biden’s plan to forgive thousands of dollars in student debt for millions of Americans and adjust repayment for others will cost roughly $500 billion, according to a nonprofit that analyzes such plans. Biden says he will cancel up to $10,000 of student debt owed to the federal government for households earning less than…
Biden Student Loan Forgiveness to Cost Roughly $500 Billion: Committee for a Responsible Federal Budget
Biden’s Student Debt Forgiveness to Benefit White House Staffers: Watchdog
August 25, 2022
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A watchdog group claims President Joe Biden’s newly announced student loan forgiveness scheme stands to benefit a number of Biden appointees who qualify for the debt wipeout scheme that Republicans have panned as “wildly unfair redistribution.” Taxpayers will absorb up to $10,000 in outstanding student debt for borrowers earning less than $125,000 per year under…
‘Astonishingly Unfair’: McConnell Bashes Biden’s Student Loan Relief, Calling It ‘Socialism’
August 24, 2022
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Senate Minority Leader Mitch McConnell (R-Ky.) said President Joe Biden’s newly announced student loan forgiveness would drive up “wildly unfair redistribution” of wealth, benefitting only higher-earning elites of the country. “President Biden’s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their…
‘Astonishingly Unfair’: McConnell Calls Biden’s Student Loan Relief ‘Socialism’
August 24, 2022
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DemocratseconomyEducation & Family NewsinflationPolicies & ImpactsPoliticsRepublicansSenate Majority Leader Mitch McConnellstudent loanUSUS News
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Senate Minority Leader Mitch McConnell (R-Ky.) said President Joe Biden’s newly announced student loan forgiveness would drive up “wildly unfair redistribution” of wealth, benefitting only higher-earning elites of the country. “President Biden’s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their…
Democrats ‘Grasping at Straws’ for Votes by Canceling Student Loan Debt: GOP Lawmaker
August 24, 2022
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Canceling student loan debt is the latest bid by Democrats to win votes and prevent the House chamber from flipping red this fall, according to Rep. Virginia Foxx (R-N.Y.). “Delaying this until now, pretty close to the election, is certainly a political ploy,” the congresswoman told Capitol Report, a program on The Epoch Times’ sister…
Biden Admin to Cancel $10,000 of Student Loan Debt for Millions, Despite Inflation Concerns
August 24, 2022
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The Biden administration announced Wednesday that it will spend hundreds of billions of dollars to pay off at least $10,000 in federal student loan debt for each borrower, despite widespread worries that the move will worsen the inflation crisis. Individuals earning less than $125,000 a year or families earning less than $250,000 will be eligible…
Biden to Cancel $10,000 of Student Loan Debt for Millions, Amid Inflation Concerns
August 24, 2022
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DemocratseconomyEducation & Family NewsExecutive BranchJoe BidenMiguel CardonaPoliticsstudent loanUSUS News
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President Joe Biden said on Aug. 24 that his administration will spend hundreds of billions of dollars to pay off $10,000 in federal student loan debt for some borrowers, amid widespread concern that the move will worsen the inflation crisis. Individuals earning less than $125,000 a year or families earning less than $250,000 will be…
Deadline Approaching for Californian Public Service Workers Eligible for Student Loan Forgiveness
August 15, 2022
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Eligible public service workers in California have until Oct. 31, 2022, to apply for federal student loan forgiveness. Nearly 1 million Californians can take advantage of this debt relief, but only 10,000 have been approved so far, according to state Attorney General Rob Bonta. In a press release, Bonta reminded Californians to take the opportunity…
Deadline Approaching for California Public Service Workers Eligible for Student Loan Forgiveness
August 15, 2022
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Education & Family NewsLocal NewsNorthern CaliforniaPublic Service Loan ForgivenessRegional NewsRegional-Local NewsSouthern Californiastudent loanUS
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Eligible public service workers in California have until Oct. 31, 2022, to apply for federal student loan forgiveness. Nearly 1 million Californians can take advantage of this debt relief, but only 10,000 have been approved so far, according to state Attorney General Rob Bonta. In a press release, Bonta reminded Californians to take the opportunity…
New Survey Shows Student Loans Have Delayed Wealth-Building for Gen Z and Millennial Borrowers
By Hanneh Bareham From Bankrate.com Roughly 60 percent of U.S. adults who have held student loan debt have put off making important financial decisions due to that debt, according to a new Bankrate survey. For Gen Z and millennial borrowers alone, that number rises to 70 percent. Student loans have prevented these borrowers from saving…
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