CONVENIENT TIMING: Biden admin releases initial student loan handout application weeks before midterms
President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White House on Aug. 24 in Washington.in August and is estimated to cost over $500 billion, qualifies those with a gross income of $125,000 as individuals or $250,000 for couples who file joint taxes.
Federal Pell Grant recipients are eligible to receive up to $20,000, while non-Pell Grant recipients are eligible for up to $10,000. These qualifications are listed as a disclosure at the top of the application webpage. The announcement of the massive taxpayer-funded loan handout was met with sharp criticism from Republicans and independents.
FILE: Activists attend a rally outside of the White House to call on U.S. President Joe Biden to cancel student debt on July 27, 2022, in Washington, D.C. Several lawsuits have been filed in response, including one in Missouri that is set for a federal court hearing on Wednesday. Legal arguments focus on whether the executive branch has the authority to hand out such a significant sum.The policy has been largely celebrated in Biden's own party, with many commentators speculating the loan forgiveness could be a major shake-up ahead of the midterms.
President Biden speaks about lowering costs for American families at Irvine Valley Community College, in Irvine, California, Friday, Oct. 14, 2022.