President Biden’s student loan relief plan would cancel up to $20,000 in federal student loans for borrowers. Individuals making less than $125,000 per year, and married couples making less than $250,000 can have up to $10,000 in relief. If the individual received a Pell Grant, they can have an additional $10,000 in relief.
Biden’s plan has been met, predictably, with support and opposition.
Supporters are in agreement with the primary narrative used by the administration – many borrowers are struggling with either debt or default, and forgiveness would provide relief. They point out the hypocrisy of people who are opposing forgiveness but nonetheless received Paycheck Protection Program (PPP) loan forgiveness....