President Joe Biden students loan forgiveness, in his address on Monday night to the nation at a time when millions of Americans
President-elect Biden pledged during his address to the General Debate in which he called on Congress to immediately approve a bipartisan package
It’s important though, even if the president doesn’t want to put the blame squarely on him, that the president be willing to pass legislation and stand by it.
Joe Biden said during his speech that he would call for significant tax reform, saying his priority was to lower the corporate tax rate to 28 percent from 35 percent
He’s also spoken about cancelling the student debt limit in several ways. One of the proposals that he made was increasing the debt ceiling so it might be raised over the next year.
After a huge spike in delinquencies in August, the U.S. Department of Education estimated it owed more than 1.5 million borrowers about $1.1 trillion.
Another thing Biden wants to do is raise the interest rates on federal student loans so they’re no longer under federal regulation.
The higher interest rates will allow consumers to hold on to loans for longer due to the potential cost savings from saving those funds instead of having them taken out.
Although the idea was floated before, it doesn’t appear anything will get done unless one party or another holds the chamber.