Watch: Joe Biden announces student debt forgiveness and loan repayment extension

Watch: Joe Biden announces student debt forgiveness and loan repayment extension
Image via Gage Skidmore.

President Joe Biden Wednesday afternoon at 2:15 PM ET will formally announce his plan to cancel $10,000 of student loan deb to those making under $125,000, $20,000 to those who have Pell Grants, and extend the current debt repayment pause through the end of the year.

Upon making the announcement President Biden is fulfilling a campaign promise while balancing the effects the moves will have on inflation, but giving ammunition to Republicans and the far left — who are already falsely declaring the move is either “socialism” or insufficient.

The $10,000 is what Biden promised while running for president, the $20,000 goes above that promise, as does the extension ion the pause for the remainder of the year.

Watch live below:

WATCH LIVE: President Biden announces decision on student debt

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