In the United States, Joe Biden announced a $10,000 cut in college student debt

In the United States, Joe Biden announced a $10,000 cut in college student debt

Joe Biden Declaring Student Debt Relief: Canceled until $10,000 federal loan for College For earners Less than 125 thousand dollars per year (or 250 thousand if it is a family), a cut is doubled Skin grafts (reserved for low-income students), and extending until the end of the year the moratorium on payments introduced during the pandemic. It was announced there The White House After months of wrangling over fears that inflation could rise before the midterms. This strategy will affect millions of students and cost taxpayers 300 billion dollars.

“The cost of post-high school education has risen so much that US states have cut student support, leaving them with a bigger bill,” the president explained. “Education is the ticket to one A better life“, he continued, observing how a generation of Americans finds themselves with an “unsustainable” student debt. Critics say the reduction will increase inflationary pressures. “Today’s action is an opportunity. It’s about giving people a good chance – he said – it’s about making sure people have the breath They want to buy a house, open a business, start a family and save for their future.

There is also A 5% limit on monthly income (Usually it is 10%). Estimated to be in the US 45 million people Holding the total amount 1600 billion dollars in federal college loans, and any type of loan (auto or other consumer goods). The White House believes that 90% of the benefits will go to families making $75,000 a year or less.

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