President Joe Biden is expected to make a decision soon on whether or not he will erase debt for students up to an amount of $10,000 who make less than $125,000 annually.
"The Biden White House is reportedly deciding whether or not it should 'cancel' up to $10,000 in student debt for borrowers — a decision that is expected to come Wednesday," reported Breitbart.
"Student debt has remained a highly contested topic even among Democrats, as President Biden has continued to kick the ball down the road, simply continuing the Trump administration’s decision to postpone student loan payments due to the Chinese coronavirus pandemic," reported Breitbart.
"As a result, many borrowers have not made a payment in well over a year," Breitbart reports, "and many hope they may never have to again as far-left Democrats continue to put pressure on Biden to cancel student loan debt, or at least a sizable portion of it."
"One source told CNN that the Biden White House is set to make an announcement on Wednesday as the White House weighs canceling up to $10,000 in student loan debt for individuals making less than $125,000 annually," as Breitbart reported.
The CNN source added:
In addition to that baseline of student loan debt forgiveness for individuals who fall under a certain income level, administration officials have also recently discussed the possibility of additional forgiveness for specific subsets of the population, according to sources familiar with internal discussions in the administration.
As one would guess, #cancelstudentdebt is trending on Twitter:
.@POTUS there are 10 days until student loan payments restart.
Canceling student debt is a step towards racial, gender, and economic justice. #CancelStudentDebt
— Congresswoman Cori Bush (@RepCori) August 22, 2022
—Seniors on fixed incomes still paying down student debt.
—Teachers struggling to afford childcare and student loan payments.
—Parents who co-signed their kids' loans & can't retire.
— Congresswoman Ayanna Pressley (@RepPressley) August 22, 2022
President Biden should #CancelStudentDebt to: help narrow the racial wealth gap among borrowers, provide relief to the 40% of borrowers who never got to finish their degree, and give working families the chance to buy their first home or save for retirement. It’s the right thing.
— Elizabeth Warren (@SenWarren) August 23, 2022
If we can bail out Wall Street after their greed, recklessness, and illegal behavior drove us into the worst recession in modern history, then YES — we absolutely can cancel every single cent of student debt in this country.
— Bernie Sanders (@BernieSanders) August 22, 2022
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