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.
Bank

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 forgiveness youtu.be

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}
@2022 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by fontsempire.com.