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President Biden’s Department of Education has changed its guidance around who qualifies for student debt relief plan. Cenk Uygur, John Iadarola and Max Burns discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live
Read more HERE: https://www.commondreams.org/news/2022/09/29/gut-punch-biden-pulls-student-debt-relief-millions-gop-states-sue
“Progressives on Thursday decried the Biden administration’s decision to exclude millions of people from its student loan relief plan, a move meant to thwart legal challenges like the lawsuit filed on the same day by six Republican-led states seeking to block President Joe Biden’s proposal to cancel up to $20,000 of federal educational debt per borrower.
Politico reports worries over legal challenges from the student lending industry prompted the U.S. Department of Education to reverse course and no longer allow borrowers with Federal Family Education Loan Program (FFEL) and Perkins loans—which are guaranteed by the federal government but held by private lenders—to participate in the debt cancellation plan.
Biden announced last month that his administration will forgive $10,000 in federal student loan debt for borrowers who attended college without Pell Grants and who earn less than $125,000 individually, or $250,000 as a household. Borrowers who received Pell Grants will have $20,000 in federal debt erased.”
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