Even Joe Biden had student loan debt. Here's what he wants to do about your student loans:
at Keene State University in New Hampshire, Joe Biden, the former vice president and 2020 presidential candidate, shared some thoughts to tackle student loan debt. Here are some highlights:If you're enrolled in an income-driven repayment plan, Biden wants to lower the amount you pay for your student loans each month. Under current income-driven repayment plans, you could pay 10-20% of your discretionary income each month. Biden wants to lower that amount to 5% of your discretionary income.
If you earn $30,000 or less each year, Biden said you should have not have to repay student loans or have interest accumulate on your student loans..Biden supports public service loan forgiveness, a federal program that President George W. Bush initiated in 2007., which would impact borrowers who borrow a new student loan after July 1, 2020.
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