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Biden Steps Down, Harris Poised to Champion Student Loans Relief in 2024
Harris‘s Record on Student Loans Relief
President Biden has announced he will not seek reelection in 2024 and has endorsed Vice President Kamala Harris, according to Business Insider. This decision could lead to new policies potentially benefiting student-loan borrowers. Biden‘s move comes after pressure from his party. As vice president and throughout her career Harris has consistently supported measures aimed at alleviating the burden of student debt. Her track record includes significant actions in higher education particularly during her tenure as California’s attorney general. In 2013, Harris spearheaded an investigation into the now-defunct Corinthian College a for-profit institution accused of deceiving students and leaving them with unmanageable debt. Her efforts resulted in a $1 billion relief package for affected borrowers in 2016.
Continuing this advocacy in 2022 the Biden administration announced $5.8 billion in debt cancellation for remaining borrowers defrauded by Corinthian marking a historic move in student debt relief. Harris‘s commitment to aiding borrowers didn’t stop there. In 2023, the administration approved an additional $39 billion in relief for 804,000 borrowers on income-driven repayment plans. Harris emphasized that reducing student loans has been a longstanding priority for her reflecting a consistent focus on educational equity. Kamala Harris has supported broad student loans forgiveness backing Biden‘s plan to cancel up to $20,000 in debt per borrower. Although the Supreme Court blocked the initial proposal a second attempt is underway. This new plan aims to cancel unpaid interest and provide relief to borrowers who have been repaying for at least 20 years, potentially benefiting over 30 million people.
READ ALSO: Kamala Harris 2024: How Her Shift On Key Issues Propels Her To Front-Runner Status
$20K In Student Loans Canceled: Kamala Harris’ Bold Move For Debt Free Futures (PHOTO: AP News)
Complex Loan Forgiveness Plan and Free College Proposal at the Forefront
In addition, during the 2020 campaign Kamala Harris endorsed Bernie Sanders’s College for All Act which would have eliminated tuition at public universities and community colleges for families making up to $125,000 and she put forth a plan to forgive student loans for Pell Grant recipients who founded businesses in underprivileged areas. Her stances on student debt and higher education will be crucial as the 2024 election draws near and will give many Americans who are dealing with student loans hope.
READ ALSO: $300 Monthly Child Tax Credit Boosts Economy: Biden Seeks To Make Permanent Program That Cut Child Poverty Rates By 40%
