Biden's student loan forgiveness plan: Everything we know so far

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President Biden has floated the possibility of erasing some student loan debt for millions of Americans, reviving a campaign promise as he faces mounting pressure from progressives as well as declining approval ratings.

. "I am not considering $50,000 debt reduction. But I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness."

The president has not said how much he is considering canceling, but signaled that $50,000 in debt forgiveness is not under consideration.Erasing $10,000 per borrower would require the government to cancel about $321 billion in federally backed loans, according to anpublished by the Federal Reserve Bank of New York last week. That would benefit about 11.8 million borrowers, or roughly 31.1%, and cancel 30.5% of loans delinquent or in default prior to pandemic forbearance.

White House press secretary Jen Psaki holds a daily press briefing at the White House in Washington April 20, 2022.Will the executive order face a legal challenge?

 

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They do this I am going to the most expensive art 🖼 school 🏫 in America 🇺🇸 never mind I can’t draw ✍️ stick figures I want my free education!

and they all live at home. they need to support their parents to fight bidens policys on inflation and get our oil pumping again

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