Claim: "Most benefits would go to households in the top 60% of earners."This is based on a dated estimate — and it’s not accurate under the existing Biden plan.that about 69% of debt relief in a plan similar to Biden’s would go to the top 60% of earners, or individuals making about $50,800 a year or more. However, it did not factor in the additional debt relief for certain Pell Grant recipients.
A graphic with the White House tweet said that the number is based on eligible borrowers who are out of school and by individual income. The Education Department told us it had to deduce the income of many borrowers, using Census data and statistical models. With any model, there’s going to be uncertainty. The Wharton analysis we mentioned above reaches a slightly different conclusion.The tweet said the 85% figure was from 2018 by "expanded cash income level .
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Biden cancels $10,000 in federal student loan debt for most borrowersPresident Biden announced yesterday that he will forgive $10,000 in federal student debt for most borrowers, delivering financial relief to millions of Americans. And We Have to Pay for it!!! You think inflation is high now! You haven't seen anything yet! This Needs to be Blocked!😎 “relief” 😆 Households making $250,000 living in luxury apartments and eating at the finest restaurants every night are qualified to get that “relief.” Paid for by the struggling Americans. Now I'm starting to wish mine weren't private loans. Bummer.
Source: CNBC - 🏆 12. / 72 Read more »
Some celebrate President Biden's student loan announcement, others criticize itWhile millions of people celebrated Biden’s loan forgiveness announcement, millions of others expressed anger over the fact that this will not help their financial situation When Trump and the GOP were giving out huge tax cuts that a much larger percentage of people didn't benefit from, were you also stoking this working class intermural rift? You're being led by the nose to present this framing and you probably don't even know it. copolitics “Millions of others”? Which millions? Did you just make this up to bothsides the story?
Source: DenverChannel - 🏆 239. / 63 Read more »