President Joe Biden has a new plan to deal with Americans facing a mountain of student loan debt. It’s to cancel $10,000.
Sources tell The Washington Post that the president plans to forgive $10,000 of education debt.
While this sounds exciting, the requirement is that those who qualify must earn below a certain limit.
So far no plans have been announced and nobody in the Biden Administration has admitted to the plan existing.
Details surrounding the unannounced student loan debt cancellation plan
97% of college graduates could qualify for the plan.
Right now education payments are paused and set to resume at the end of August.
Many Democrats are against the plan, saying it isn’t enough.
President Biden claimed he would forgive all student loan debt before he was elected president.