Mr. Biden has endorsed canceling $10,000 in federal student debt per borrower through legislation, and insisted that chipping away at the $1.7 trillion in loan debt held by more than 43 million borrowers is integral to his economic plan. But Democratic leaders, backed by the party’s left flank, are pressing for up to $50,000 of debt relief per borrower, executed on Day 1 of his presidency… To truly break the debt cycle, though, forgiveness would need to be paired with policy changes addressing the underlying cause of America’s skyrocketing student debt: affordability, an issue Democrats have tried to address… Mr. Biden’s campaign platform proposed making public universities tuition-free for families making less than $125,000 a year.

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by Erica L. Green, Luke Broadwater and Stacy Cowley, The New York Times.

Posted: December 10th, 2020, by: admin. Categories: . Awaiting Comments.