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Debt relief as Biden forgives billions in student loans

Published

2 years ago

August 25, 2022

Veronica Dudo

Biden cancels $10,000 of federal student loan debt for certain borrowers making less than $125,000 per year

After months of spirited debate, President Joe Biden has formally announced a federal student loan relief plan.

On Wednesday, the President said in White House remarks that the action is aimed at helping “families who need it the most.”

According to the details, borrowers who have loans with the Department of Education and make less than $125,000 a year are eligible for up to $20,000 in student loan forgiveness if they received Pell Grants for college.

Additionally, individuals who make less than $125,000 a year but did not receive Pell Grants are able to receive for $10,000 in loan forgiveness.

The Biden administration not only announced these plans but also said that undergraduate federal loans can cap their payment at 5% of their monthly income.

Another major initiative from the White House is news that they will extend the pandemic-era pause on student loan repayments until Dec. 31—just one final time.

Despite increasing the debt, Biden said he would ‘never apologize’ for helping the “middle class.”

During the afternoon address, the President also defended his administration’s move to restart frozen federal student loan payments at the end of the year, saying this is an “economically responsible course” that will prevent his targeted student loan cancellation from having a “meaningful effect on inflation.”

However, Senate Minority Leader Mitch McConnell slammed Biden’s announcement, saying that Democrats have “found yet another way to make inflation even worse, reward far-left activists, and achieve nothing for millions of working American families who can barely tread water.”

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Veronica Dudo

Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

News

Why Australia is becoming the new home of the Hollywood blockbuster

Published

1 day ago

May 17, 2024

Nathan Langridge

Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.

The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.

The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.

Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.

Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured

News

Portal between countries shut down after international flashing

Published

2 days ago

May 17, 2024

Nathan Langridge

An international video portal has been forced to shut down after an OnlyFans model reportedly flashed passersby from across the globe.

On this episode of Ahron and Mike Live – Which would you prefer; pay rise or work perks, an international portal closes, the military reveal a submarine stingray and are you on a top or bottom burger bun?

Ticker’s Ahron Young & Mike Loder discuss. #featured #trending

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U.S. home prices surge 47%

Published

2 days ago

May 17, 2024

ticker NEWS

American home prices are rising at faster pace now than in the last 20-years.

A recent analysis reveals a jaw dropping surge in the cost of American homes.

Since the start of 2020, U.S. home prices have surged 47% easily outstripping the gains seen in recent decades.

On top of that, home price growth so far this decade is on the verge of surpassing all the growth seen in the 2000s.

Many experts believe this decade’s housing market frenzy was ignited by a perfect storm — the onset of the COVID-19 pandemic triggering an unprecedented rush among buyers.

Tom Hutchens, the Executive Vice President of Production at Angel Oak Mortgage Solutions joins Veronica Dudo to discuss.

#IN AMERICA TODAY #economy #housing #housingmarket #homeprices #homesales #inflation #trending