Commentary: Biden’s debt cancellation will help millions, but it won’t end the student loan crisis
by Jonathan D. Glater and Dalié Jiménez, Los Angeles Times
Aug 26, 2022
3 minutes
In a remarkable move, the Biden administration on Wednesday announced that it would cancel millions of dollars in federal student loans, giving struggling student borrowers some concrete good news. This mini debt jubilee, accompanied by another extension of repayment obligations and a new income-driven repayment plan, is a critical step in addressing the slow-boil crisis of student debt.
The administration’s new policy will erase up to $10,000 of federal student debt for individual borrowers earning
You’re reading a preview, subscribe to read more.
Start your free 30 days