US President, Joe Bidenannounced this Wednesday Will forgive some of the debt of millions of college students contract with the federal government to be able to pay for their tuition nod to the young vote The parliamentary elections are a little over two months away.
The announcement comes after months of internal debate within the Government and the cutback of student debt payments in 2020 due to the pandemic.
“My Administration, fulfilling one of my campaign promises, a plan to give working and middle-class families some breathing space” Biden took note from his Twitter account.
Cancellation of debt up to $10,000
Specifically, the president reported Cancellation of debt up to $10,000 per studenthowever, this measure will only benefit those who earn less than $125,000 per year or those who earn less than $250,000 per year while married.
In an effort to help low-income students, Biden also noted that $20,000 of debt incurred by recipients of Pell grants, which benefit large numbers of low-income Hispanic and black students, will be canceled.
Also the president turned extend the help program created by its predecessor donald trump (2017-2021) to pause student debt payments at the start of the pandemic.
Notably, Biden stated that payments would continue to be suspended until December 31, but warned that this would be the last time the aid program would be extended.
In this regard, the Department of Education has asked Americans with student debt to prepare to face repayments in the new year.
pressure on Biden
A group of senators from the Democratic Party and organizations representing racial minorities Biden has been under pressure for months to forgive all or at least some of his student debts.
Senate Democrats leader Chuck Schumer and progressive senator Elizabeth Warren praised Biden’s decision in a joint statement, reminding that no US president has done so much to ease the burden on many college students.
Despite the congratulations, both Schumer and Warren asked Biden to donate more than $10,000 to students, because in some cases Debts can exceed $100,000 or even $200,000.
For its part, the National Association for the Advancement of Colored People (NAACP), the main US group advocating for African Americans, thought the announcement was not enough and reminded that the black community was disproportionately affected by the student issue. debt.