CNBC: Pres. Biden cancels $10K of student loan debt for most borrowers

 Well it's not total relief, but how many will argue with this. I won't.

Via CNBC:

President Joe Biden announced Wednesday that he will forgive $10,000 in federal student debt for most borrowers, fulfilling a campaign pledge and delivering financial relief to millions of Americans.

Biden will cancel up to $20,000 for recipients of Pell Grants, he also said in a tweet Wednesday.

The relief will be limited to Americans earning under $125,000 per year, or $250,000 for married couples or heads of households. The relief is also capped at the amount of a borrower’s outstanding eligible debt, per the Education Department.

The president will also extend the payment pause on most federal student loans “one final time” through Dec. 31, 2022, according to the tweet.

The tweet in question.

In keeping with my campaign promise, my Administration is announcing a plan to give working and middle class families breathing room as they prepare to resume federal student loan payments in January 2023.

I'll have more details this afternoon. pic.twitter.com/kuZNqoMe4I

— President Biden (@POTUS) August 24, 2022

Of course as I've shown the debate continues. Is student loan relief fair for those who didn't go to college, those who paid off their loans, or even those who never took out loans to go to school? I think the argument goes that a lot of these loans are subsidized.