Top News | Will Joe Biden forgive student loans?
UPON his election to office, United States President Joe Biden alluded to plans for student loan forgiveness. Biden said he would use executive authority to extend the moratorium on student loan payments, interest, and collections.
The Mega AgencyUS President Joe Biden stresses a point during his speech on April 28, 2021 '/ ' What is Joe Biden's student loan forgiveness plan? The Biden administration mentioned a possibility of revising the student loan forgiveness plan as one of their first acts in office. The team also announced that it would expedite a request to Congress for $10,000 in loan cancellation for all federal borrowers. This could wipe out debt completely for nearly 15 million borrowers who owe $10,000 or less, according to federal data. However, this hasn't been approved \- as yet. Most read in US News DON BOARD Epstein pilot tells trial Trump and Bill Clinton flew on Lolita jet 'INTENT TO KILL' Oxford High School gunman had 'online plan to kill students,' cops reveal DIED A HERO Hero football star, 16, died trying to disarm Oxford High School 'shooter' TORTURE HOUSE Five most shocking Turpin family secrets, from Barbie cam to horror beatings 'SICK' FANTASIES Teen 'killer's' journal revealed 'desire to shoot school and classmates' CHLLING SIGNS 7 red flags before deadly school shooting from 'devil countdown to gun pic' What did Biden say about student loan forgiveness? In March 2020, Congress passed the CARES Act, which provided substantial relief to student loan borrowers by pausing their payments and suspending accrued interest. Donald Trump's administration extended the moratorium twice after it was initially supposed to expire on September 30, 2020. In response, Biden tweeted: ...We should forgive a minimum of $10,000/person of federal student loans, as proposed by Senator Warren and colleagues. ...Young people and other student debt holders bore the brunt of the last crisis. It shouldn't happen again.... CNET reports that while at a CNN town hall meeting, in February, Biden was asked whether he would cancel $50,000 of student loan debt. He replied: ...I'm prepared to write off a $10,000 debt, but not 50 'thousand '. Because I don't think I have the authority to do it by signing 'with ' the pen.... On April 1, however, he asked Education Secretary Miguel Cardona if it was within the president's power to cancel $50,000 in student loan debt. The department has not as yet announced its findings, CNET adds. Joint session of Congress speech On April 28, 2021, Biden told a joint session of Congress about achievements during his first 100 days as President. He unveiled his administration's $1.8trillion American Families Plan to secure the future of children, families, and higher education, saying it would produce lasting benefits for the economy. But, the proposal does not include any student loan forgiveness. Forbes explains that he has been hesitant to use his executive authority to forgive the loans. The magazine explains: ...Student loan borrower advocates and progressives have been pushing Biden for months to bypass Congress and enact widespread student loan forgiveness through executive action.... 
The Mega AgencyJoe Biden was applauded during his Congress speech '/ ' Although the White House has ...indicated... that Biden would sign student loan forgiveness legislation passed by Congress, this hasn't happened yet. So, there is a legal review underway behind the scenes, to check whether student loan forgiveness could be enacted via executive action \- bypassing Congress. CNET adds: ...Biden may be able to sign an executive order that cancels some debt per student. ...Or it may be that Congress would have to pass a bill if sweeping cancellations are outside Biden's power.... In the meantime, there is a ...growing number of scammers... taking advantage of the confusing situation, telling students they can help with loan forgiveness, warns CNET. What is Joe Biden's stimulus check plan? The seventh batch of $1,400 stimulus checks has been sent to Americans as IRS processes tax returns, as of April 2021. About two million payments were issued in the latest round, bringing the total to date to about 163 million. It means the payments sent out over the last six weeks are worth roughly $384billion. The latest batch includes approximately 1.1 million direct deposits and 850,000 paper checks. These went to Americans who had recently filed a 2020 tax return and met certain income criteria. Under Biden's stimulus bill, people with an adjusted gross income of up to $75,000 and couples with an adjusted gross income of $150,000 or less are eligible for full payments. 
Getty Images - GettyA seventh-round of checks has been sent out to Americans '/ ' Taxpayers who earn less can still receive a partial payment, providing they bring home less than $80,000 individually or $160,000 for married couples. The government has urged those who do not receive federal benefits or file tax returns to do so in order to receive stimulus payments. Americans may be entitled to larger payments if they lost their jobs or received reduced income during the pandemic. These could also be applicable to those who had a child in 2020. Biden introduced his stimulus package during a prime-time address on January 14. He previously tweeted his support for a $2,000 stimulus check but instead announced he'd send out $1,400 to make up for the difference following Trump's $600 checks. Critics slammed Biden for the $1,400 checks, which are $600 less than the amount he initially called for. The drop in money came despite Biden tweeting: ...$600 is simply not enough when you have to choose between paying rent or putting food on the table. His push for more money comes weeks after Donald Trump first urged the coronavirus relief bill to have a round of $2,000 direct payments. Fellow Democrat Chuck Schumer has said that stimulus checks will be a priority when the blue party takes control of the Senate. ...We need $2,000 stimulus checks.... Do I qualify for student loan forgiveness? According to Forbes, Joe Biden canceled a total of $11.5billion dollars in student loans during 2021. Applying and qualifying for student loan forgiveness is not a simple process. If you meet the number of requirements, you could be granted amnesty from your student loan debts through the programs available. The programs that have been created to grant amnesty on student loan debt include Income-Based Repayment, Total and Permanent Disability Forgiveness, and Public Service Loan Forgiveness. We pay for your stories! Do you have a story for The US Sun team? Email us at exclusive@the-sun.com or call 212 416 4552. Like us on Facebook at www.facebook.com/TheSunUS and follow us from our main Twitter account at @TheSunUS Source:
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