White House officials plan to cancel $ 10,000 in student debt for a borrower, a central campaign promise of President Biden that would relieve debt for millions of Americans, according to the Washington Post.
biden's proposed, however, it is not yet finished.
The announcement of the president's plan to address the $ 1.7 billion that is currently due to the federal government in student debt had been speculated by many who arrived so soon last Saturday, when Biden made a start. Speech at the University of Delaware. According to the post, the time of the announcement was delayed after the mass shooting in Texas on May 24.
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The plan would limit debt relief to Americans who earn $ 150,000 and $ 300,000 for couples who present together, according to the income of the previous year, White House officials said to the post. It is currently not clear if the administration will require that the borrowers resume the payments of federal loans for students when the moratorium of the pandemic era is programmed to expire at the end of August.
Multiple sources familiar with the issue in the interior of higher education that have not received the communication of the Biden administration on any proposal to relieve student debt.
The plan to relieve $ 10,000 per borrower does not reach what progressive democrats and debt defenders have asked for a long time, the progress of the current. -Board of the student debt debt. At least, progressive democrats such as Senators Elizabeth Warren of Massachusetts, Raphael Warnock from Georgia and Chuck Schumer in New York have asked Biden to cancel at least $ 50,000 in debt per borrower.googetag.cmd.push (function () Googetag .display ("dfp-ad-article_in_article");););););););););););););););););););););););
"Ten thousand dollars of the cancellation of student debt is not enough to reduce the racial wealth gap, boost the economy or turn out that the necessary voters in November," said Braxton Brewington, spokesman for the debt collective. "It is very inappropriate and does not match the scale of the crisis. Biden must cancel every dollar and ensure that the cancellation is automatic so that everyone can obtain their relief owed without jumping through administrative hoops." The NAACP issued a statement on Friday with reasons to relieve $ 10,000 would not be enough. We find that more than half of all the debt of student loans is in the hands of households that have a zero or negative net worth. Secondly, we find that from homes with student debt, 52 percent of black households and the 32 percent of non -black households have a zero or negative net worth, "said the NAACP.
added: "Student debt can delay or change the decisions of a home on a series of topics: where to live, what kind of work to do, start a family, buy a house or launch a business." > Related stories h2>
said Biden to the late journalists April that he would make an announcement about his plan to address student debt in the coming weeks. After it was learned that the administration was considering placing an income limit on who would qualify for debt relief, the officials of the Department of Education warned that said plan would create an administrative "trains shock", because the department lacks access to the income information of the borrowers.
according to the 2021 data of the Department of Education, a general plan to relieve
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