Donald Trump Responds To Biden’s Student Debt Cancellation – “Election Enhancing Money Grab”
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The Biden administration announced that they would cancel student debt for up to $20,000 in debt cancellation to Pell Grant recipients and up to $10,000 in debt cancellation to non-Pell Grant recipients.
Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education, and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 ($250,000 for married couples). No high-income individual or high-income household – in the top 5% of incomes – will benefit from this action. To ensure a smooth transition to repayment and prevent unnecessary defaults, the pause on federal student loan repayment will be extended one final time through December 31, 2022. Borrowers should expect to resume payment in January 2023.
Trump responded with a statement blasting the move by the Biden administration.
Trump called it “another election enhancing money grab” and said, “it’s coming right out of the pockets of working-class Americans who are struggling the most!”
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