(RepublicanDaily.org) – Student debt has been among the most divisive issues in Washington, DC, for some time now. It’s not just a partisan dispute, either. In a move that shocked some pundits, House Speaker Nancy Pelosi (D-CA) spoke out against federal student debt relief earlier this year. She also opined President Joe Biden didn’t have the authority to cancel it unilaterally. However, the president appears determined to ease the financial strain on some students with federal money.
On Thursday, August 19, the US Department of Education announced plans to erase debts for students and graduates with severe disabilities who cannot earn significant incomes. The policy will wipe out $5.8 billion in debts, according to estimates.
The Biden administration has announced that it will automatically erase student loan debt for more than 300,000 Americans with severe disabilities that leave them unable to earn significant incomes. The move will wipe out more than $5.8 billion in debt. https://t.co/fFuud3oF98
— The Associated Press (@AP) August 19, 2021
A more limited version of the program already exists. It only caters to “totally and permanently disabled” students. Disabled Americans must submit proof of their disability and undergo a monitoring period of three years. The new system, which bases payments on Social Security records related to disability, will bestow debt forgiveness for tens of thousands of additional Americans. The Biden administration wants to eliminate the monitoring period.
The question now is whether people will think it’s a fair compromise or an unfair burden on the taxpayer?
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