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Biden stuck with the $ 10,000 student loan repayment plan

Biden stuck with the $ 10,000 student loan repayment plan

Washington DC. – The President Joe Biden He’s committed to a $ 10,000 student loan plan, but the announcement was delayed after the massacre of 19 students and two teachers at Rob Elementary School in Wolverhampton, Texas.

According to Washington Post, Biden’s intention was to make the announcement while delivering his inaugural address at the University of Delaware tomorrow, Saturday.

There is a stir in the United States in this regard Massacre in Uvalde, Biden adjourned the announcement. President Biden is scheduled to travel Sunday to visit relatives and members of the community in the small city of Texas, which is heavily populated by Hispanics.

The White House’s most recent plan aims to repay $ 10,000 student loans to individuals earning less than $ 150,000 and couples earning less than $ 300,000.

Is one thing More than 329,300 residents can benefit in Puerto RicoThose facing about $ 9.3 billion in financial obligations and the U.S. Department of Education have an average of $ 28,000 in debt.

Biden will also have to decide whether to extend the ban on loans until August 31.

In late April, Biden said he would announce his plan to eliminate student debt in a couple of weeks. But all indications are that May will end without a final decision.

One of the alternatives is to cancel the loan for undergraduate studies. But Biden, in an interview with CNN before 2021, expressed interest in borrowing from teachers and some volunteers who have been in service for five years.

If you are going to repay a teacher loan, you need to keep in mind that a master’s degree is usually required to qualify for a teaching position.

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This decision will create discriminatory struggles, as Republicans generally oppose it.

Liberal Democrats – some moderates such as Charles Schumer, the Democratic Senate majority – have called for a $ 50,000 student loan waiver.

According to the panel for a responsible federal budget, the cancellation of $ 10,000 per borrower would have an impact of about $ 245,000 million.