Republicans and Democrats on Capitol Hill had wildly different responses to President Biden's cancelling of $10,000 in student debt for Americans making under $125,000.
making less than $125,000 annually. Pell Grant recipients will receive $20,000 in debt handouts provided their income is below the $125,000 threshold. Administration officials claim that no individual or household in the top 5% of earners will benefit from the decision. is also extending pause on student loan payments through the end of the year.
"Today is a day of joy and relief. President Biden is canceling up to $20,000 of federal student debt for as many as 43 million Americans — a powerful step to help rebuild the middle class," said Sen. Elizabeth Warren, D-Mass."This will be transformative for the lives of working people all across this country."
"Grateful for the organizers, activists, and advocates who never let up in the push for student debt cancellation," said Rep. Cori Bush, D-Mo."This victory is because of you."
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