The President of the United States, Joe Biden, announced on Wednesday that he will pay off part of the debt that millions of college students have contracted with the federal government in order to pay for their studies, referring to the vote of young people over just two months. before the legislative elections.
The announcement comes after months of internal debate within the government and after student debt payments were halted in 2020 as a relief measure due to the pandemic.
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“Fulfilling one of my campaign promises, my administration has announced a plan to give middle- and working-class families some breathing space.”Biden noted on his Twitter account.
Specifically, the president reported canceling up to $10,000 in debt per student, but this action would only benefit those who earn less than $125,000 per year or those earning less than $250,000 per year.
In an effort to help students with lower incomes, Biden also indicated that $20,000 of debt contracted by recipients of some so-called Pell scholarships would be forgiven, which would cancel a large number of Hispanic and black students with few resources. .
In addition, the president once again extended the relief program established by his predecessor Donald Trump (2017-2021) at the start of the pandemic to halt student debt payments.
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Specifically, Biden specified that payments would continue to be suspended until December 31, but cautioned that this was the last time the relief program would be extended.
In this regard, the Department of Education, in a statement, asked Americans burdened with student debt to prepare to face payments again starting in the new year.
A group of Democratic senators and organizations representing ethnic minorities had been lobbying Biden for months to cancel all or at least part of the student debt.
Senate Democratic Leader Chuck Schumer and Progressive Senator Elizabeth Warren praised Biden’s decision in a joint statement, noting that no US president has done much to ease the burden that weighs on so many college students.
Despite the congratulations, both Schumer and Warren asked Biden to forgive students more than $10,000, because in some cases the debts can exceed $100,000 and even $200,000.
For its part, the National Association for the Advancement of Colored People (NAACP), the main US group advocating for African Americans, deemed the advertisement insufficient and recalled that the black community had been disproportionately affected by the student problem. religion.
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