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Nearly 22 million have already requested student loan relief, says Biden

President Joe Biden said nearly 22 million people have applied for federal student loan relief in the week since his administration made its online application available

Joe Biden

Photo: Bloomberg

AP Dover (Delaware)
President Joe Biden said nearly 22 million people have applied for federal student loan relief in the week since his administration made its online application available more than half of the number the White House believes are eligible for the programme.
Speaking at Delaware State University, a historically Black university where the majority of students receive federal Pell Grants, Biden touted the first-week statistics since the application was beta-launched last Friday. He officially unveiled it at the White House on Monday.
Biden's plan calls for USD 10,000 in federal student debt cancellation for those with incomes below USD 125,000 a year, or households that make less than USD 250,000 a year.
Those who received federal Pell Grants to attend college are eligible for an additional USD 10,000. The plan makes 20 million eligible to get their federal student debt erased entirely.
Biden highlighted the ease of the application, which doesn't require users to upload any forms or to create an account.
Folks, it takes less than 5 minutes, Biden said. He said the vast majority of applicants are able to submit for relief from their phones.
Biden blasted Republicans who have criticised his relief programme, saying their outrage is wrong and it's hypocritical."

He added, I don't want to hear it from MAGA Republican officials who had millions of debt and pandemic relief loans forgiven, naming GOP lawmakers like Reps. Vern Buchanan and Marjorie Taylor Greene, who received loan forgiveness, and Sen. Ted Cruz, who called some beneficiaries of student loans slackers.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 22 2022 | 8:56 AM IST

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