In a move that is music to the ears of progressive Democrats and Chuck Schumer, the Biden administration is considering forgiving at least $10k in student loans per borrower by executive action.
According to Bloomberg “the administration has not yet settled on the proposal’s contours, but aims for the relief to be targeted to lower- and middle-income individuals, according to people familiar with the internal discussions. Biden himself confirmed Thursday that he plans to do something, but said he is not weighing $50,000 in forgiveness per borrower.”
“That figure has been pushed by House progressives and Democratic Senator Elizabeth Warren, along with several advocacy and civil rights groups. Former top Warren aides, including Julie Margetta Morgan and Bharat Ramamurti, now hold top jobs inside the Biden administration, working on the issue at the Department of Education and National Economic Council,” the report adds.
In recent tweet that went viral, Kassy Dillon tweeted:
I just worked my butt off to pay off my very expensive student loans a few months ago.
If Biden forgives student loans, I’m going to be livid.