It was good news for all Americans, especially for those still burdened with debt from student loans, that President Biden has signaled that he will use his executive authority to cancel some of the debt.
Currently, a moratorium on student loans has been in effect since the outbreak of COVID-19, and the news has come that the president plans to do more than extending the moratorium, which is still short of canceling the debt entirely.
Even so, there is a bit of hesitancy on such a broad relief initiative, particularly its impact on the economy in this period of rising inflation. Biden appears to have his ear cocked to some of the concerns raised by a recent government watchdog report that has revealed stark failure in the student loan forgiveness program run by the feds.
For Richard Cordray, chief operating officer at FSA , an agency of the Education Department, “this is really inexcusable,” he said in an interview with Yahoo Finance. “But what’s done is done. And what we’re trying to do here is take account of it and make adjustments for it as best we can.”
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Adult sex abuse survivors win 2nd chance to sue in New York - New York Amsterdam NewsAdult sexual assault survivors who missed legal deadlines to sue their abusers would get a second chance to file lawsuits under a bill that received final approval Monday from New York’s Legislature.
Weiterlesen »
Rapid Response Protests Planned to Stop Biden From 'Screwing Up' Student Debt ReliefBiden's reported student debt relief proposal 'fundamentally misunderstands the predatory nature of student loans,' said one critic.
Weiterlesen »
Africans fleeing war in Ukraine face new obsticles in France - New York Amsterdam News“We thought France would welcome us, but that is not the case,” a Congolese student told the news service France24. “They tell us we don’t have a nationality––that we were in Ukraine only to study and now we have to go home.”
Weiterlesen »
Celestine Chaney, Buffalo supermarket victim, mourned - New York Amsterdam NewsImages of Celestine Chaney’s shooting death in a hate-fueled attack inside a Buffalo supermarket made their way across the internet in the days that followed.
Weiterlesen »
Chandler-Waterman celebrates 58th Assembly special election win - New York Amsterdam NewsYet another special election wrapped this Tuesday, May 24, with a new state Assembly member-elect in the 58th District. The district covers East Flatbush and Canarsie in Brooklyn.
Weiterlesen »
Malcolm X Day in Harlem - New York Amsterdam NewsAs is traditional, there was the annual pilgrimage to the gravesite in Ferncliff Cemetery in Hartsdale, which Malcolm X shares with his wife’s, Dr. Betty Shabazz.
Weiterlesen »