The measure applies to people earning less than $125,000 a year.
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US President Joe Biden announced on Wednesday August 24 a partial cancellation of student loans. The measure, announced less than three months before the midterm elections, affects people earning less than $125,000 a year. It will be a question of erasing 10,000 dollars for people who have not benefited from a federal scholarship to pay the costs related to their university studies, and 20,000 dollars for those, with more modest means, having received a .
The plan was announced after months of reflection at the White House on this issue, which has also been a headache for previous administrations. The executive was particularly concerned about the possibility that the measure would fuel already galloping inflation.
Democratic Senators Chuck Schumer and Elizabeth Warren praised in a joint statement “a giant step towards resolving the student debt crisis”. The leader of the Republican Party, Ronna McDaniel, on the contrary considered that this measure “unfairly punished Americans who saved up for college or made a different career choice”.