This partial erasure of at least $ 10,000 only applies to people earning less than $ 125,000 per year.
Le Monde
It was one of his campaign promises: the President of the United States, Joe Biden, announced, Wednesday August 24, a partial erasure of student loans, a long-awaited decision in a country where a year at the University can cost tens of thousands of dollars.
“In accordance with my campaign promise, my administration announces a plan to give respite to the families of the working class and the middle class when they are preparing to resume the reimbursement of federal student loans in January 2023” , tweeted Mr. Biden. This partial erasure of at least $ 10,000 only applies to people earning less than $ 125,000 per year (or children whose parents earn less than 250,000 dollars per year), according to an illustration accompanying the president’s tweet .
in keeping with my campaign promised, my administration is announcing a plan to give working and middle class family… https://t.co/dh6uylnkeiaj
The president also extended the moratorium in the reimbursement of federal student loans for “last time” until the end of 2022.
In 2019, some 45 million Americans accumulated a debt of $ 1,600 billion (1,482 billion euros) contracted to pay their higher education. This amount, multiplied by almost three in the space of twelve years, is much higher than the debt linked to credit cards (around 1,000 billion). Once graduated, each borrower owes an average of $ 32,000.