President Joe Biden announced a plan to forgive as much as $20,000 in student loans.
Figures released Tuesday showed that 1,082,900 state residents could take advantage of the program announced last month, with more than half, 590,300, receiving up to $20,000 in loan forgiveness since they receive Pell Grants, given to lower-income college students.
“We’re talking about over a million New Jerseyans who the burden will be lifted on them,” said U.S. Sen., a strong voice in Congress urging Biden to cancel some of the debt. “That would allow them to maybe start a new business that they couldn’t before, maybe buy their first home that they couldn’t before, maybe start a family that they delayed. This is going to be an enormous economic engine in our state as well as a benefit to those individuals.
“It may be hard to see how soul crushing this debt can be,” Warren said. “People are frightened about what it means for their futures and ashamed of what it says about their pasts.”
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