Biden Administration Warns Americans Student Debt Payments Resume

WASHINGTON, DC - NOVEMBER 02: U.S. President Joe Biden delivers remarks on developing infrastructure jobs in the East Room of the White House on November 2, 2022 in Washington, DC. Biden highlighted his administration's efforts to train Americans for jobs in broadband, construction, and manufacturing following the passages of the Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act. (Photo by Oliver Contreras/Getty Images)

At a glance

  • “Working and middle-class Americans who could have up to $10,000 or $20,000 of their student debt relieved under the Biden Administration’s plan will remain under the burden of loan debt — preventing them from pursuing the dream of homeownership, saving up for retirement, or starting small businesses.”
  • Last summer, the White House unveiled its controversial loan relief plan to cancel up to $10,000 of student debt for individuals who earn less than $125,000 per year or less than $250,000 for married couples.
  • However, the U.S. Court of Appeals for the 8th Circuit ordered the Biden administration last month to halt canceling student loan debt after approximately 26 million Americans applied for the program.

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