HERRING: Biden Is Walking A Political Tightrope Over Student Loan Debt. Here’s Why
The expected plan would wipe out $10,000 dollars of student loan debt for all individuals who earn less than $125,000 per year and extend the current pause on payments for four more months.
Currently, teachers can see $17,500 in student loan obligations evaporate with minimal qualifying requirements. Government and nonprofit workers have an even better arrangement. Once they’ve made 120 monthly payments, the remainder of their debt is simply forgiven, resulting in an average loan dismissal of $64,000 per debtor.
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