Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Loans and Borrowing

President Biden set to make student loan announcements on Wednesday. (Photo by Paul Morigi/Getty Images for We, The 45 Million)

By Hannah Bryan Leaders Staff

Hannah Bryan

Hannah Bryan

News Writer

Hannah Bryan is a news writer for Leaders Media. Most recently she was a reporter for the Sanilac County News...

Full bio


Learn about our editorial policy

Aug 23, 2022

New Guidance on Student Loans

President Joe Biden is expected to announce student-loan forgiveness measures Wednesday.

Key details
President Biden’s long-anticipated announcement is expected to come Wednesday. The exact details aren’t yet known, but the President has been considering options such as $10,000 forgiveness per borrower, excluding borrowers who make more than $125,000 to $150,000 a year. 

Some anticipate that President Biden will extend the student-loan payment pause until the end of this year in addition to a certain amount of debt forgiveness for borrowers below a certain income level. The current pause is set to expire at the end of August. 

With rapidly growing inflation, the decision is under intense scrutiny from both sides of the aisle, with some insisting relief is needed while others argue the relief will ramp up already crushing inflation. 

It’s likely no matter what announcement the President makes, he will receive pushback from both sides. Those in favor of loan forgiveness have been pushing for more than the expected $10,000 to be forgiven. Opponents don’t want any forgiveness or moratoriums. 

Why it’s news
Student-loan forgiveness could be a major point for the President before midterms. He’s already accomplished a few of his major goals through the Inflation Reduction Act which addresses taxes, healthcare, and climate issues.

Student-loan forgiveness would be a costly endeavor. Depending on the extent of forgiveness, it could cost somewhere between $300 billion and $980 billion over 10 years. The majority of borrowers are in the top 60% of income earners, Bloomberg reports.

Already the Biden administration has canceled around $32 billion in student loan debt.

What’s not being said

The student-loan holders who pay back their loans in full consider forgiveness unfair. If they have to repay loans, why should everyone not repay loans?

Many argue as well that student-loan forgiveness is inflationary. “Student loan debt relief is spending that raises demand and increases inflation,” former Treasury Secretary Larry Summers said on Twitter.

Home / News / New Guidance on Student Loans
Share
FacebookTweetEmailLinkedIn

Related Stories

Fortune 500 Reveals Economic Changes 

by Hannah Bryan Leaders Staff
Wealth

15 hours ago

Fortune 500

Fortune released its annual list of the 500 largest companies in the U.S., revealing the continued success of many big names along with a few changes.

Key Details

  • The 69th annual Fortune 500 list, which ranks the 500 largest companies in the U.S. by revenue, revealed that Walmart still tops the list. 
  • While companies like Walmart have remained at the top of the list for over a decade, this year’s list shows that oil companies are rising again after a brief dip.
  • Healthcare companies are also rising, urged on by growing demand for pharmaceuticals and healthcare needs, Fortune reports. 
  • The report also found that companies on the list are increasingly located in Texas and leaving California and New York. 

Go deeper

FacebookTweetEmailLinkedIn

YouTube To Permit Election-Fraud Claims 

by Tyler Hummel Leaders Staff
Social Media

15 hours ago

YouTube, the world’s largest video-sharing website, has announced that it will widen its policies to permit controversial political speech during the upcoming election cycle. 

Key Details

  • On June 2, YouTube announced in a blog post that it will be scaling back on its policy to suppress “election misinformation” as the 2024 election season approaches. 
  • YouTube says that it has re-evaluated its policies and realized that curbing misinformation came at the expense of harming political speech and having little effect on reducing real-world issues in the process. 
  • The platform will continue to prioritize authoritative sources and punish sources that purposely mislead voters with claims that discourage eligible voters or misdirect them on how to vote. The platform will also continue suppressing hate speech, violence incitement, and harassment.

Go deeper

FacebookTweetEmailLinkedIn

Apple’s Vision For the Future

by Hannah Bryan Leaders Staff
Tech

15 hours ago

At Apple’s World Wide Developers Conference, the company unveiled updates to its iMac, iPhone, iPad, and Apple Watch models, but the announcement with the most buzz was the unveiling of the Apple Vision Pro.

Key Details

  • On Monday, Apple announced updates to its current iMac, iPhone, iPad, and Apple Watch models, including changes to voicemail options and data processing. 
  • However, tech enthusiasts eagerly awaited Apple’s long-promised virtual-reality headset unveiling. 
  • The Apple Vision Pro is an augmented-reality headset that Apple CEO Tim Cook will usher in a new era of spatial computing. It will be available for sale early next year for $3,499.
  • The device allows the user to do many of the same tasks he would perform on his laptop on a virtual screen.
  • Apple promoted the product for various uses, including in the office, working remotely, watching movies, and gaming. 
  • “So in the same way that Mac introduced us to personal computing and iPhone introduced us to mobile computing, Apple Vision Pro will introduce us to spatial computing,” Cook says.

Go deeper

FacebookTweetEmailLinkedIn
pickleball
Entertainment

16 hours ago

America’s New Favorite Pastime

by Hannah Bryan Leaders Staff
Markets

17 hours ago

Driving Down the Price Of Eggs 

by Tyler Hummel Leaders Staff
manufacturing
Productivity

17 hours ago

A Strategic Push To Manufacture In the U.S.

by Hannah Bryan Leaders Staff

Recent Articles

Personal Growth

21 hours ago

The Executive’s Secret Weapon: Morning Meditation for Increased Productivity and Focus

Learn why leaders and executives practice morning meditation for performance.

Leadership

Jun 1, 2023

Transforming Impulsive Behavior: Unleashing the Disciplined Leader Within

Impulsivity can cause financial problems, reputation damage, and legal issues.

Leadership

May 31, 2023

Self-Sacrificing and Hate Attention? You May Be an Echoist, the Opposite of a Narcissist

An echoist, the opposite of a narcissist, is selfless, but lacks boundaries and self-esteem.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com

x