Page 2 - aruba-today-20220825

A2 UP FRONT
Thursday 25 augusT 2022
Big student loan forgiveness plan announced by Biden

By SEUNG MIN KIM, CHRIS In fact many Democrats,
MEGERIAN, COLLIN BINKLEY from congressional lead-
and ZEKE MILLER ers to others facing tough
Associated Press reelection bids this Novem-
WASHINGTON (AP) — Presi- ber, have pushed the ad-
dent Joe Biden on Wednes- ministration to go as broad-
day announced detailed ly as possible on debt relief,
plans to deliver on a cam- seeing it in part as a galva-
paign promise to provide nizing issue, particularly for
$10,000 in student debt Black and young voters.
cancellation for millions of The extension of the pan-
Americans — and up to demic-era payment freeze
$10,000 more for those with comes just days before mil-
the greatest financial need lions of Americans are to
— along with measures to find out when their next stu-
lower the burden of repay- dent loan bills will be due.
ment for their remaining The current pause is to end
federal student debt. Aug. 31.
Borrowers who earn less The administration said the
than $125,000 a year, or Education Department
families earning less than would release information
$250,000, would be eligible in coming weeks for eligi-
for the $10,000 loan forgive- ble borrowers to sign up for
ness, Biden announced. For President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the debt relief. Cancellation for
those who also receive Pell White House, Wednesday, Aug. 24, 2022, in Washington. Education Secretary Miguel Cardona some will be automatic, if
Grants, which are reserved listens at right. Associated Press the department has access
for undergraduates with to to their income informa-
the most significant finan- fer a windfall to many in the their rent and utilities. To fi- Republicans questioning tion, but others will need to
cial need, the federal gov- run-up to this fall’s midterm nally think about buying a the fairness of any wide- fill out a form.
ernment would cancel up elections. More than 43 mil- home or starting a family or spread forgiveness. Current students would
to an additional $10,000 in lion people have federal starting a business.” The White House empha- be eligible for relief only if
federal loan debt. student debt, with an av- Proponents say cancel- sized that no one in the top their loans were originated
“Both of these targeted ac- erage balance of $37,667, lation will narrow the ra- 5% of incomes would see before July 1, 2022. Biden
tions are for families who according to federal data. cial wealth gap — Black any loan relief. is also proposing capping
need it the most: working Nearly a third of borrowers students are more likely But top Republicans were the amount that borrowers
and middle class people hit owe less than $10,000, and to borrow federal stu- not persuaded. must pay monthly on un-
especially hard during the about half owe less than dent loans and at higher Senate GOP leader Mitch dergraduate loans at 5% of
pandemic,” Biden said in $20,000. The White House amounts than others. Four McConnell said, “President their earnings, down from
remarks at the White House estimates that Biden’s an- years after earning bach- Biden’s inflation is crush- 10% previously. The Educa-
Wednesday afternoon. nouncement would erase elor’s degrees, Black bor- ing working families, and tion Department is to post
Biden is also extending a the federal student debt of rowers owe an average of his answer is to give away a proposed rule to that
pause on all federal stu- about 20 million people. nearly $25,000 more than even more government effect, which would also
dent loan payments for “That’s 20 million people their white peers, accord- money to elites with higher cover the unpaid monthly
what he called the “final who can start getting on ing to a Brookings Institution salaries. Democrats are lit- interest for borrowers who
time” through the end of with their lives,” Biden said. study. erally using working Ameri- remain current with their
2022. “All this means, people can Biden has faced pressure cans’ money to try to buy monthly payments — even
If his plan survives legal start to finally crawl out from liberals to provide themselves some enthu- when the payments are $0
challenges that are almost from under that mountain broader relief to hard-hit siasm from their political because their incomes are
certain to come, it could of- of debt. To get on top of borrowers, but also from base.” low.q

Jill Biden has ‘rebound’ COVID-19

case, president negative

spent three days with his ceived two negative tests band, 79, have been
wife at their Rehoboth and was cleared to meet twice-vaccinated and
Beach, Delaware, vaca- the president in Delaware twice-boosted with the
tion home, continues to on Sunday. Biden's deputy Pfizer COVID-19 vaccine.
test negative, the White communications director She had been prescribed
House said. He also suf- Kelsey Donohue said the the antiviral drug Pax-
fered a rebound case first lady "has experienced lovid, which has proven
earlier this month after an no reemergence of symp- to be highly effective at
initial recovery from the toms, and will remain in preventing serious disease
President Joe Biden looks at his grandson Beau Biden as first coronavirus. Delaware where she has and death among those
lady Jill Biden waves and walks to board Air Force One at Jill Biden first tested posi- reinitiated isolation proce- at highest risk from CO-
Andrews Air Force Base, Md., Aug. 10, 2022. tive for the virus on Aug. dures." Donohue said the VID-19, but a minority of
Associated Press 15, when she and her hus- White House Medical Unit those prescribed the drug
WASHINGTON (AP) — First bound" case, after she band were vacationing in has notified individuals have experienced a re-
lady Jill Biden has tested tested negative for the vi- Kiawah Island, South Car- who were in close contact bound case of the virus a
positive for COVID-19 rus over the weekend. olina. She isolated in the with the first lady. few days after their initial
again in an apparent "re- President Joe Biden, who beach town until she re- Jill Biden, 71, and her hus- recovery.q