- High-income earners could be excluded from the right to student loan relief, according to The Washington Post.
- “There are various proposals on how to structure this,” a source told the newspaper.
- It is reported that loan facilities that have been taken for degrees in medicine and law can also be excluded.
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The White House is considering using income ceilings to exclude high-income earners from its eligibility criteria to ease student loans.
The Washington Post reported the news on Saturday.
Officials are considering ways to write off student loans as President Biden says he is considering giving up the debt, lawmakers told various news outlets on Wednesday.
Biden’s best associates are seeking to limit relief for people earning less than $ 125,000 to $ 150,000 or $ 250,000 to $ 300,000 for couples who file joint taxes, people familiar with the matter told The Washington Post. But they said no final decision had been made on the plans.
“There are various proposals around the administration on how to structure this,” one man told the Washington Post.
They added that the administration and congressional officials have focused their discussions on “how best to respond to the president’s desire to ensure that the most economically vulnerable students with student debt benefit from any action.”
The US administration is discussing the amount that will be reduced from student loan debt, but it could be at least $ 10,000 for eligible people, people familiar with the matter told The Washington Post.
People added that the White House was also considering excluding loans for loans taken for professional degrees such as medicine and law, and could limit aid to student loans.
Biden has taken a number of steps since taking office to help Americans who have growing student loan debts totaling $ 1.7 trillion. Biden said this week that he would decide to ease student loans in the coming weeks.
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