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HomeIllinois NewsIL Democrat LG celebrates Biden's student loan debt transfer to taxpayers

IL Democrat LG celebrates Biden’s student loan debt transfer to taxpayers

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CLJUtwFZ_400x400President Biden announced Wednesday a plan to transfer at least $10,000 college debt from those individuals making $125,000 or couples making $250,000 to American taxpayers’ rising national debt. 

Illinois’ Democrat Lieutenant Governor Juliana Stratton celebrated Biden’s plan with the following statement: 

Chicago — Today, millions of people are receiving news about long-awaited financial relief. With President Joe Biden’s announcement to forgive thousands of dollars in student loan debt for most borrowers, a burden is being eased.

As part of my office’s initiative to build a strong, diverse teacher pipeline, I traveled across Illinois to hear from leaders and students at our state colleges and universities.

On these campuses, I heard and felt the deep concern people in all fields had about the looming presence of student loan debt and how it would not only impact their careers, but also their quality of life.

This student loan plan takes major steps to address that. Up to $20,000 in debt relief for Pell Grant recipients ensures that forgiveness intentionally uplifts those from lower-income backgrounds. Additionally, restructuring the repayment system will provide increased borrower support after the freeze on payments ends. More needs to be done, but this is a historic move forward that will change the lives of millions.
 
I commend the administration for these tremendous efforts. May this drive us to continue the work for equitable, affordable education in Illinois and across the nation.

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3 COMMENTS

  1. An Unconstitutional student loan debt forgiveness by a dictator. The granting of the “executive Power” to the President is not a blank check giving him power to do whatever he wants. The “executive Power” is simply the power to implement those Acts of Congress which are within Congress’ lawful powers. People think that the president of the United States has the power for debt forgiveness. He does not. He can postpone, he can delay, but he does not have the power to forgive the debt. That has to be an act of Congress. This is more proof Obama is pulling the strings in the white house, Obama tried to student loan debt forgive too.
    My car loan debt identifies as a student loan debt, I want $20,000 of my car loan debt forgiven…..

  2. What is ironic is that our taxes will have to go up exponentially to cover all the handouts and EV charging station…so that 10 or 20 thousand people believe is just being given to them by ‘the government’ will just end up paying those higher taxes and higher prices for everything and nobody is helping anybody at all.