AOC swings at the White House for weighing only $10,000 in student debt relief: ‘We can do better’

  • Date: 27-May-2022
  • Source: Business Insider
  • Sector:Economy
  • Country:Egypt
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AOC swings at the White House for weighing only $10,000 in student debt relief: ‘We can do better’

As President Joe Biden is to cancel $10,000 in student loan debt for borrowers earning under $150,000, progressive groups and politicians have a message: It's not enough. Rep. Alexandria Ocasio-Cortez took to Twitter to lambast the amount of debt that the Biden administration is targeting, and how it intends to distribute it. She warned it may backfire on Biden by infuriating his opponents as well as borrowers who want more relief from crushing loans. She wrote that $10,000 in means-tested forgiveness "is just enough to anger the people against it" — and "the people who need forgiveness the most." "$10k relieves most the people who owe the least. What relief is there for the most desperate? For them, interest will undo that 10k fast. We can do better," the Democrat from New York wrote. The White House did not immediately respond to a request for comment. Biden appears to be to a final decision on his long-awaited student-loan forgiveness plans. He pledged on the campaign trail to approve $10,000 in relief for federal borrowers, and while many progressive lawmakers have been pushing him to cancel $50,000 — or even all — student debt, he appears to be sticking with a