President Joe Biden is considering income as a factor in his decision whether to forgive some federal student loans for American borrowers.
President Joe Biden is considering income as a factor in his decision whether to forgive some federal student loans for American borrowers, the White House’s top spokeswoman confirmed Monday.
The president confirmed that he is not considering $50,000 in forgiveness for each borrower, as some progressive Democrats and advocates have urged. “There are a number of schools … that have larger endowments and other schools — public universities and others,” she said. "What he's referencing is making sure it's targeted to those graduates who have the greatest need."
Many of Biden’s social proposals have centered around income, such as direct stimulus payments from the COVID-19 relief bill, the American Rescue Plan, or his ideas about how much families should pay for childcare or college, which were part of his Build Back Better bill that stalled in the Senate.
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