Stories tagged: "student loans"
Should the legislation pass the US House and make its way to the President’s desk, it will almost certainly be vetoed.
About 90% of the benefits from Biden's plan will go to families earning less than $75,000 according to the White House, but a group of Republican-led states have sued to block it.
In Arizona, 496,000 people applied or were automatically eligible for relief. Of that 496,000, 314,000 were fully-approved applications sent to loan servicers for discharge.Â
Biden’s relief plan would forgive up to $20,000 of student debt for people who make under $125,000 a year and borrowed federally. Nearly half a million Arizonans have already been approved for student debt forgiveness under Biden's program.
Under the new plan, borrowers who earn less than roughly $30,600 a year would owe $0 a month on their federal student loans, effectively pausing them. A borrower who’s in a family of four and makes less than roughly $62,400 would also see their payments paused.
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Over the past two years, the Biden-Harris administration and the Democratic-run House and Senate acted to lower healthcare and drug costs; fight climate change and reduce energy costs; invest in mental health care; and invest in American manufacturing and infrastructure.
Under Democratic control, the federal government acted to lower healthcare and prescription drug costs; fight climate change and lower energy costs; invest in gun safety and mental healthcare; and implement a generational investment in American industry, manufacturing, and infrastructure.