As the saying goes, the news never stops — but there’s a lot of it out there, and all of it doesn’t always pertain to our readers. In this weekly news roundup, we’ll cover the top news stories that matter most to our diversity focused audience.
1. Biden’s Student Loan Forgiveness Plan Could Favor High-Income Americans
President Joe Biden announced his Student Debt Relief plan on Wednesday, which will cancel $10,000 of student debt for those with an annual income of less than $125,000 and cancel $20,000 for those who qualified for federal Pell grants, which are given to help low-income undergraduates attend school.
While 32% of all borrowers could see their student debt wiped out by this plan and will eliminate half of federal student loan debt held by 20.5% of borrowers who owe between $10,000 and $20,000 on their student loans, the plan could favor high-income Americans.
