It's not yet clear what he'll announce. The pause on student loan payments is currently scheduled to end on Aug. 31.
President Biden is expected to make an announcement on student loan relief on Wednesday, according to two sources familiar with the matter.
It's not clear yet exactly what the president will ultimately announce, however. Canceling $10,000 in student loan debt for borrowers who make up to $125,000 is one of the possibilities, one source familiar with the discussions said.It's also possible the administration may merely extend the pause on student loan payments again for now and wait to make an announcement on canceling any student loan debt.
Sources said the president said he would make a decision before Aug. 31, and he's still on track to do that. A Penn Wharton Budget Model analysis concludes forgiving $10,000 of student loan debt for those earning up to $125,000 a yearin the first year. It also found more than two-thirds of the debt forgiveness would aid Americans in the top 60% of earners.
Low-income Americans who never attended college and are struggling financially amid record-high inflation would not benefit from any debt cancelation, critics of student debt cancellation point out. Erasing some student loan debt also would not address the rising cost of college, which has historically outpaced inflation in recent decades. The pause on student loan repayment began under the Trump administration at the onset of the pandemic, and Mr.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Letters to the Editor: Aug. 23Letters to the editor for Aug. 23
Consulte Mais informação »
Celebrity Birthdays: Aug. 22Here are some of the notable people celebrating birthdays today, including Bill Parcells, Diana Nyad, James Corden, Kristen Wiig, Rick Yune, Ty Burrell, Vernon Reid and more.
Consulte Mais informação »
Letters to the Editor: Aug. 22Letters to the Editor for Aug. 22
Consulte Mais informação »
Best Things To Do This Week in Los Angeles And SoCal: Aug. 22 - 25Take a tour of the reopened Hollyhock House. Watch a singular screening of The Afterlight. Attend the fourth edition of the Black Movie Soundtrack concert. Listen to tales from The Moth’s master storytellers.
Consulte Mais informação »
EatMGM Restaurant Week returns Aug. 26 - Sept. 4Montgomery’s eighth annual restaurant week is less than a week away.
Consulte Mais informação »
Your Turn, Aug. 22: Has bipartisanship become a crime?Read the Express-News letters to the editor for Aug. 22.
Consulte Mais informação »