Category: employer paying student loans

Financial boon awaits AOC or other ‘Squad’ players when the Biden cancels student loans

Financial boon awaits AOC or other ‘Squad’ players when the Biden cancels student loans


R ep. Alexandria Ocasio-Cortez (D-NY) or other people in the brand new “Squad” out-of progressive Democratic lawmakers stand-to receive an individual monetary benefit in the event that Chairman Joe Biden acquiesces to their need in order to outright treat federal beginner loans.

Ocasio-Cortez, who tends to make a taxpayer-funded yearly salary regarding $174,100000, provides repeatedly entitled with the Biden so you can sidestep Congress and you will terminate most of the established student loan debt.

The newest York lawmaker hardly recognizes her individual risk regarding count – Ocasio-Cortez said inside her newest monetary disclosure owing anywhere between $15,001 and you may $fifty,100 when you look at the federal college student debt, an accountability that would be wiped clean if the Biden caved in order to this lady request.

“#CancelStudentDebt are hands down the couples, uncommon solutions Biden must wade larger w/o the latest Senate. The guy should take it,” Ocasio-Cortez tweeted in .

“Biden needs to lean with the their government power now,” the newest lawmaker tweeted for the December. “He’s come slowing down and underutilizing they up until now. There is certainly a giant number he is able to manage on the weather, beginner debt, immigration, marijuana, health care, and more.”

Biden told you during the April which he was provided playing with his executive authority to cease doing $ten,000 off a great federal scholar obligations each debtor, a figure lower compared to the $50,100 blanket student obligations forgiveness Senate Bulk Leader Chuck Schumer (D-NY) suggested during the .

Attract and you will costs toward government college loans was paused since the beginning of the fresh new COVID-19 pandemic at the beginning of 2020. Biden possess longer brand new pause many times just like the as chairman, lately within the April as he lengthened the fresh new repayment frost due to the termination of August. Read More