National Student Debt Abyss Sees The Light of Day
President Biden Initiates $20,000 Student Debt Relief Bill to Millions
On Wednesday, August 24th, the Biden Administration announced that they would forgive up to $20,000 for the Pell Grant participants (grant that aids families under the $60,000 income mark) and $10,000 for other qualifying individuals. This will help many college graduates pay off their education and relieve some of the stress that comes with student debt.
President Biden made a similar promise during his campaign and is following through, much to the delight of these recipients. On the other hand, a few people wanted more debt to be forgiven with their obligations reaching $60,000. Many economists opposed the move by Biden, arguing this debt forgiveness plan will do practically nothing to help the costs of college nationwide. As with everything in American politics, no two sides will agree, and all we can do is wait and see the outcome.
