antemortem
Moderator
BBC article
My initial instinct is it might be “better than nothing,” but it’s ultimately a drop in the bucket, and there’s no excuse for it to not be more, except for the unfortunate fact that the lowest $ amount proposal is the one, ironically, with the highest chances of federal success.
Original tweet:BBC said:US President Joe Biden will cancel up to $10,000 (£8,474) in federal student loans for millions of Americans who earn less than $125,000 each year.
Mr Biden will also forgive $20,000 of debt for students on Pell Grants, which applies to those in greatest financial need.
The president will provide the details of his plan at 14:15 EST (18:15 GMT).
An estimated 43 million Americans owe an estimated combined total of $1.6tn in federal student debt.
Almost a third owe less than $10,000.
"My administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023," Mr Biden said on Twitter.
My initial instinct is it might be “better than nothing,” but it’s ultimately a drop in the bucket, and there’s no excuse for it to not be more, except for the unfortunate fact that the lowest $ amount proposal is the one, ironically, with the highest chances of federal success.