Biden administration to cancel at least $10K in student loan debt
Al JazeeraPresident Joe Biden says loan forgiveness will help ‘families that need it most’ amid debt crisis in the United States. He said his administration, which also extended a freeze on student loan repayments through the end of the year, hopes to “provide more breathing room for people” burdened by their debt. “Now, countless individuals, many Latinos, will soon get some relief needed to help make their dreams more accessible and affordable.” Natalia Abrams, president and founder of the Student Debt Crisis Center, said in a statement that the Biden administration’s move “marks a historic moment and critical first step in the long fight to end the student debt crisis”. — Nina Turner August 23, 2022 “Canceling $10,000 of student debt after ‘considering’ it for more than a year and a half is like waiting on hold for 6 hours only to get a 5% refund,” the National Association for the Advancement of Colored People advocacy group said on Twitter. “Canceling $10,000 in student debt when the average white borrower is $12,000 in debt, while Black women hold on average over $52,000 isn’t just unacceptable, it’s structural racism,” said progressive activist and former Ohio state senator Nina Turner.