Latest News by Industry
DOVER, Delaware (AP) — President Joe Biden said Friday that nearly 22 million people have applied for federal student loan relief in the week since his administration made its online application available — more than half of the number the White House believes are eligible for the program.
Biden’s plan calls for $10,000 in federal student debt cancellation for those with incomes below $125,000 a year, or households that make less than $250,000 a year. Those who received federal Pell Grants to attend college are eligible for an additional $10,000. The plan makes 20 million eligible to get their federal student debt erased entirely.
Biden highlighted the ease of the application, which doesn't require users to upload any forms or to create an account.
“Folks, it takes less than 5 minutes,” Biden said. He said the “vast majority” of applicants are able to submit for relief from their phones.
Biden blasted Republicans who have criticized his relief program, saying “their outrage is wrong and it’s hypocritical." He added, “I don’t want to hear it from MAGA Republican officials” who had millions of debt and pandemic relief loans forgiven, naming GOP lawmakers like Reps. Vern Buchanan and Marjorie Taylor Greene, who received loan forgiveness, and Sen. Ted Cruz, who called some beneficiaries of student loans ”slackers."
Asked Biden, “Who the hell do they think they are?”