High-income earners may be excluded from eligibility for student loan relief, according to the Washington Post.
“There are various suggestions on how to structure this,” a source told the newspaper.
It has been reported that remedies for loans issued for medical and legal degrees may also be excluded.
The White House is considering the possibility of using income caps to exclude high-income earners in student loan bailout eligibility criteria.
The Washington Post reported the news..
Authorities are thinking about how to amortize student loans President Biden has shown that he is considering waiving debtA member of parliament told various media outlets on Wednesday.
Biden’s top aides are considering limiting relief to people with incomes from $ 125,000 to less than $ 150,000, or $ 250,000 to less than $ 300,000 for couples filing joint taxes, the issue said. People familiar with the matter told the Washington Post. However, they said no final decision was made on the plan.
“There are various suggestions around the administration about how to structure this,” one person told The Washington Post. They focus their discussions on how government and parliamentary staff best meet the president’s desire to ensure that the most economically vulnerable people in student debt can benefit from any action. He added that he had made it.
The U.S. government is discussing how much money will be reduced from student loan debt, which could be at least $ 10,000 for eligible individuals, people who were briefed on the issue told The Washington Post. ..
The White House is also considering excluding remedies for loans issued for professional degrees such as medicine and law, adding that it may limit aid to undergraduate loans.
Biden Taken some action Since taking office to help Americans with a total of $ 1.7 trillion in student loan debt.Biden This week he said he would make a decision on student loan bailouts In the next few weeks.
Read the original article Business Insider