Skip to main content

President Joe Biden’s Announcement That The Department Of Education Would Be Canceling Student Loan Debt For Some Borrowers


Millions of Americans will see their student debt canceled or reduced following President Joe Biden's long-awaited announcement on student loan forgiveness Wednesday afternoon. 

The Biden administration is forgiving up to $10,000 in federal student loans for those making less than $125,000 a year for individuals or $250,000 for married couples or heads of households and up to $20,000 for Pell Grant recipients who meet the income threshold. Private loan holders are not included in the plan.

"In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023," Biden tweeted, adding that he will share more details of the plan Wednesday afternoon.

In the same tweet, Biden announced that the pause on student loan repayment, interest and collections, which was set to expire on Aug. 31, will be extended "one final time" through Dec. 31. The department's repayment freeze, which was first enacted in March 2020, has been extended four times since Biden took office and is set to end Aug. 31.

Comments

  1. Anonymous26 August 2022 at 07:36

    Awesome!!! President that is working

    ReplyDelete
  2. Anonymous26 August 2022 at 07:37

    Good job!!!!

    ReplyDelete
  3. Anonymous26 August 2022 at 07:37

    A huge relief to the borrowers 😂😂😂

    ReplyDelete

Post a Comment

Type your comments here

Popular posts from this blog

23 children and 54 Others Camped In A Church, In Ondo State, Rescued By The Police

The Ondo State Police Command said a total of 77 people were found locked in the basement of a church; Whole Bible Deliverance Church located at Valentino Area of Ondo town, Ondo State, reports the Punch News. The police said that the victims comprised 23 kids and 54 others including teenagers and adults, males and females. It was alleged that the victims were kidnapped and kept in the underground apartment of the church for over six months before they were rescued. The church’s pastor and some other members are currently in the custody of the command while the police had begun investigation into the matter In a one-minute, 40 seconds video, a voice was heard saying, “There are kidnapped children found in the underground cell of a church in Valentino Area of Ondo. The pastor and some members of the church have been arrested and were also in the police patrol van.’’ One of the parents of the rescued victims, Mr Michael Olorunyomi, said that he left the church because of alleged wrong Bi...
Post a Comment
Read more

Breaking! Nigerians, Meet Your Ministers, And Their Portfolios

The newly appointed ministers were administered portfolios by President Bola Ahmed Tinubu. Please see the list of Ministers and their portfolios below: LIST: Minister of Communications, Innovation and Digital Economy, Bosun Tijani Minister of State, Environment and Ecological Management, Ishak Salaco  Minister of Finance and Coordinating Minister of the Economy Wale Edun Minister of Marine and Blue Economy, Bunmi Tunji Minister of Power, Adedayo Adelabu Minister of State, Health and Social Welfare, Tunisia Alausa Minister of Solid Minerals Development, Dele Alake Minister of Tourism, Lola Ade-John Minister of Transportation, Adegboyega Oyetola Minister of Industry, Trade and Investment, Doris Anite Minister of Innovation Science and Technology, Uche Nnaji Minister of State, Labour and Employment, Nkiruka Onyejeocha Minister of Women Affairs, Uju Kennedy Minister of Works, David Umahi Minister of Aviation and Aerospace Development, Festus Keyamo Minister of Youth, Abubakar Momoh Min...
Post a Comment
Read more
On Thursday, the Federal High Court in Ikoyi, Lagos, convicted an actress, Oluwadarasimi Omoseyin, of spraying and stepping on new Naira notes at a friend’s wedding in Lagos.                       Oluwadarasimi Omoseyin Oluwadarasimi Omoseyin was sentenced by Chukwujekwu Aneke, the trial judge at the court proceeding, to six months’ imprisonment but with an option of N300,000 fine. A statement by Dele Oyewale, the Head, Media & Publicity of the Economic and Financial Crimes Commission (EFCC), the prosecuting agency. A video clip of Oluwadarasimi Omoseyin spraying new Naira notes at a wedding in Lekki, Lagos State, on 28 January 2023 went viral on social media platforms. Oluwadarasimi Omoseyin was arrested on 1 February 2023. Her performance was at a period that there was a severe scarcity of Naira notes following the Central Bank of Nigeria (CBN)’s withdrawal of old 200, 500 and 1000 Naira notes from circulation and replacement ...
Post a Comment
Read more