With Senator Sanders suspending his presidential campaign yesterday, former Vice President Joe Biden is the all-but-official Democratic nominee. Now his job is to unite the party as it takes on President Trump in the general election. Today, Biden announced two new plans in his attempt to do so, one of which being a new student debt cancellation plan.
As the coronavirus swept the nation, Biden previously backed Senator Elizabeth Warren’s call to cancel a minimum of $10,000 in student debt. He also recently adopted the 2017 version of Senator Sanders’s College for All Act that made public colleges and universities tuition-free for families with incomes up to $125,000.
His new plan goes further and adds to his previous higher education plan that provided a more generous income-based repayment plan, Public Service Loan Forgiveness reform, and more. Biden now calls for the forgiveness of student debt for student borrowers with incomes up to $125,000. He adds that the plan would have a phase-out to avoid a cliff.