Welcomed news…
He needs to go farther against student loan debt……..
Interesting that Biden was NOT gonna touch student debt up to now. eh?
(He actually said there wasn’t much he could or would do?)
What else could he be doing under the Afghan situation pressure to elevate his poll numbers?
The Biden administration announced Thursday it will automatically erase student loan debt for more than 300,000 Americans with severe disabilities that leave them unable to earn significant incomes.
The move will wipe out more than $5.8 billion in debt, according to the Education Department, and it marks the start of a broader overhaul of a program that has been criticized for having overly burdensome rules.
“We’ve heard loud and clear from borrowers with disabilities and advocates about the need for this change and we are excited to follow through on it,” Education Secretary Miguel Cardona said in a statement.
The federal government offers student debt relief for people who are “totally and permanently disabled” and have limited incomes. But the current rules require them to submit documentation of their disability and undergo a three-year monitoring period to prove they’re earning little pay….
…
The Trump administration started granting automatic loan cancellations to eligible military veterans in 2019, but the move did not apply to hundreds of thousands of other Americans with disabilities.
In March, the Education Department canceled debt for more than 40,000 borrowers whose debt had been restored because of paperwork issues, but it indicated further changes would need to come through a federal rulemaking process.
Cardona announced the change as the White House faces mounting pressure to pursue wider debt forgiveness.
Democrats including Senate Majority Leader Chuck Schumer, N.Y., and Sen. Elizabeth Warren, Mass., have called on Biden to erase $50,000 in student debt for all borrowers as a way to jumpstart the economy….
I personally think he pushed out the date to re-start re-payments until January to be able to give a New Years (read Election Year) present to the American people to bolster votes to keep his party in power and his agenda on track.
I agree…..
But ya still WOULD owe……
sorry I wasn’t clear, I think he pushed it out to cancel in January so they get cancelled in an election year. My bad for not making that clearer.