Bidens Plan For Student Loan Relief

  Hey Everyone and welcome to this weekly news update that actually may save your life. This post is going to help mostly the Millenial and Gen Z generation. As many of you know Biden plans to speak on student loan relief sometime in the near future. Although he has not exactly said what is going to happen  there has been some speculation that the president may send relief up to $50,000. 


There has been some speculation that he plans to send relief to americans who make less than $125,000 a year. Again this number is uncertain but President Biden has said many times in his statement that he does not plan on relieving $50,000. About 97% of Americans who has student loan debt would be eligible for this plan if it is enacted. 

As of April 10, 2022 there is approximately 44 Million borrowers averaging $40,000 in student loan debt. This total amount equates to approximately 1.7 Trillion dollars in debt for these students. I am a recent college grad and I was burdened by the pandemic when I graduated. The unemployment rate hit an all time high and it was challenging paying my private loans monthly. I have always been a big saver and my income was too low to pay some of the other expenses that will come as a student. When this relief comes (we don't know the exact numbers) it is going to help many americans with this crippling debt problem and consumer spending is going to boom. 

Many blue collar people are upset that US STUDENTS ARE GETTING RELIEF I DESERVE SOMETHING. Which is understandable blue collar people chose to get into a trade that pays well with little to no debt. should these blue collar boys deserve to receive something? In my honest opinion no, they chose to go into their trade and become very hard working people. The people should actually be looking at  -BIG CORPORATION BAILOUTS. 


That's all I'm going to say. Leave some comments and tell me what you think. 

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