NowThis News: Biden Hints at Canceling $10,000 per Person in Student Loans
The Biden administration has indicated that it will consider further student debt forgiveness, in addition to a payment stay on the bills that is in place until the end of August.
During a meeting with the Congressional Hispanic Caucus (CHC) earlier this week, President Joe Biden signaled that he may be canceling $10,000 in student loan debt for millions of Americans.
Although Biden did not commit to specific numbers, CBS officially reported that during the 90-minute meeting, California Democrat Rep Tony Cárdenas told Biden that the Hispanic Caucus would support efforts to unilaterally forgive $10,000 in college debt to the 40 million citizens who owe $1.6 trillion in debt, if the House does not move forward with passing legislation.
In response Cárdenas says Biden smiled and said, “You’re going to like what I do on that, I’m looking to do something on that, and I think you’re going to like what I do.”
As of today, the Biden administration paused on extending federal student-loan payments still in effect until August 31.
During a press briefing earlier this month, White House press secretary Jen Psaki said despite the pause on student-loans, borrowers will still need to pay off their debts “at some time” during the Biden administration.
By: Talia Smith
Source: NowThis News