On the campaign trail, Biden promised to cancel at least $10,000 per borrower.
When the pandemic first hit the country in March 2020, the U.S. Department of Education announced that it was offering the millions of Americans with student debt the ability to press the pause button on their loan payments without interest accruing. Research shows nearly all borrowers accepted.
"We know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments," Biden said in a statement on Dec. 22. Prior to the public health crisis, outstanding student loan debt had surpassed $1.7 trillion, outpacing credit card and auto debt. The average monthly bill was around $400, and nearly 1 in 4 borrowers were either in delinquency or default on their education loans., a columnist for The Washington Post, recently asked.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Student Loans Are Due Starting May 1, But There May Be More Student Loan ReliefWill you get more student loan relief?
Leer más »
Opinion | How canceling student loan debt would be strategically smart for BidenOpinion by Katrina vanden Heuvel: How canceling student loan debt would be strategically smart for Biden
Leer más »
What Borrowers Need to Know About Biden Administration's Reforms to the Public Service Loan Forgiveness ProgramMany borrowers are finally due to get their student loans excused under the public service loan forgiveness program, after reforms by the Biden administration.
Leer más »
Taxi Medallion Loan Shark Duped Investors by Planting 'Illegal' Positive News Stories, SEC SaysMedallion Financial allegedly used pseudonyms to place bogus stories in The Huffington Post, SeekingAlpha, TheStreet.com, and other sites.
Leer más »
Opinion | How canceling student loan debt would be strategically smart for BidenOpinion by Katrina vanden Heuvel: How canceling student loan debt would be strategically smart for Biden
Leer más »
Student Loans Are Due Starting May 1, But There May Be More Student Loan ReliefWill you get more student loan relief?
Leer más »