Nearly half of US governors demand Biden withdraw student loan forgiveness plan in letter
Nearly half of US governors demand Biden withdraw student loan forgiveness plan in letter
Wyatte Grantham-Philips, USA TODAY – 2h ago
React381 Comments|1k
Support journalism
Twenty-two Republican governors have signed a letter sent to President Joe Biden calling on him to withdraw his student loan forgiveness plan.
about:blank
Loaded: 0.00%Pause
Ad – Up Next “Biden’s student loan forgiveness plan is felt by those who can, and can’t, benefit from it”Unmute
0
Biden’s student loan forgiveness plan is felt by those who can, and can’t, benefit from it
In the letter, dated Monday, the governors wrote that they “fundamentally oppose (Biden’s) plan to force American taxpayers to pay off the student loan debt of an elite few.”
The Republicans, including Texas Gov. Greg Abbott and Florida Gov. Ron DeSantis, also claimed that Biden’s plan would harm low-income families – writing, “hourly workers will pay off the master’s and doctorate degrees of high salaried lawyers, doctors, and professors… Simply put, your plan rewards the rich and punishes the poor.”
President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House, Wednesday, Aug. 24, 2022, in Washington.© Evan Vucci, AP
Start the day smarter. Get all the news you need in your inbox each morning.
Auction Registrations Are Free – Search Construction Equipment
Late last month, Biden delivered on a key campaign promise by announcing that he would cancel at least $10,000 in student loan debt for millions of federal borrowers, as well as $20,000 to Pell Grant recipients.
‘Debt and no degree’: Biden cancels as much as $20K in student loan debt: Recap
How do I get my student loans forgiven? Qualifying for Biden’s debt relief, explained.
While the Monday letter argues that the president’s move will reward rich Americans, Biden has stressed that the income-based eligibility of his plan is aimed to help those who need it most, notably middle-class and lower-income families. Borrowers with incomes less than $125,000, or households earning $250,000 or less, are eligible for the $10,000 in forgiveness – and the up to $20,000 in debt relief is for people who have been low-income Pell Grant recipients.
Continue reading
381
Sponsored Content
No One Thought These Huge Animals Even Exist
7 Ways to Retire Comfortably With $500k
