HARRISBURG, Pa. (WHTM) — After making it a key campaign promise, President Joe Biden has now delivered massive relief for millions of Americans with student loan debt.
He announced a plan to cancel $10,000 worth of federal loan debt for people making less than $125,000 a year, with additional relief available to those in greater financial need. The president also announced one final extension on the pandemic-related pause on federal student loan payments through the end of the year.
Get the latest Pennsylvania politics and election news with abc27 newsletters
Most Republicans are not fans of this plan, including U.S. Sen. Pat Toomey.
In a statement, Toomey said in part, “Taxpayers will foot the bill for this massive expenditure, including the vast majority of Americans who already paid off their loans, paid for tuition out of pocket, or do not even have post-secondary education nor enjoy the higher lifetime earnings associated with it.”
Pennsylvania’s Democratic U.S. Sen. Bob Casey’s statement read in part, “This will give people the freedom to invest in their future, buy a home, or take a risk and start a business. It’s an important first step forward in helping borrowers saddled with student debt.”