![]() “The president possesses the power, and must summon the will, to secure the essential relief that families across the nation desperately need,” Abrams said in a statement. Natalia Abrams, president and founder of the Student Debt Crisis Center, said the responsibility for new action falls “squarely” on Biden’s shoulders. ![]() The cost was estimated at $400 billion over 30 years.Īdvocacy groups supporting debt cancellation condemned the decision while demanding that Biden find another avenue to fulfill his promise of debt relief. Twenty-six million people had applied for relief and 43 million would have been eligible, the administration said. Pell Grant recipients, who typically demonstrate more financial need, would have had an additional $10,000 in debt forgiven. The forgiveness program would have canceled $10,000 in student loan debt for those making less than $125,000 or households with less than $250,000 in income. Payments have been on hold since the start of the coronavirus pandemic more than three years ago. Loan repayments will resume in October, although interest will begin accruing in September, the Education Department has announced. “But when it came to providing relief to millions of hard-working Americans, they did everything in their power to stop it.” And those loans were forgiven,” Biden said. ![]() They “had no problem with billions in pandemic-related loans to businesses.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |