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Schumer Pressures Biden For $50,000 Student Loan Forgiveness


Added on the 08/12/2020 09:13:26 - Copyright : Wochit

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  • Biden ‘Unlikely’, Wipe Out Student Loan Debt

    Sarah Silbiger for The Washington Post via Getty Images President-elect Joe Biden told newspaper columnists on Wednesday that he was “unlikely” to pursue a plan pushed by Sens. Chuck Schumer (D-N.Y.) and Elizabeth Warren (D-Mass.) to unilaterally wipe out billions of dollars worth of student loan debt. Schumer, the Democratic leader in the Senate, had teamed with Warren, a progressive rival-turned-ally of Biden’s, to press Biden on a proposal to eliminate up to $50,000 of student loan debt per borrower.

    24/12/2020 - Wochit
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    Biden has extended federal student loan forbearance through September 30 by executive order. The forbearance was put in place by the CARES Act in March 2020. It has since been extended several times, according to Business Insider. Federal student loan payments will remain paused through September 30, with interest rates at 0%. This puts millions of Americans at ease as the economy continues to suffer due to the virus.

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