Governor Abbott demands Biden pull student loan relief plan
LAREDO, TX. (KGNS) - Governor Greg Abbott joined 21 Republican governors Monday urging President Joe Biden to scrap his student loan relief plan.
The governors wrote in a letter that the loan forgiveness plan offers a bailout for a minority of Americans who are largely well off.
The governor says those “With the most debt, such as $50,000 or more, almost exclusively have graduate degrees, meaning hourly workers will pay off the master’s and doctorate degrees of high salaried lawyers, doctors, and professors.”
But most of those people would not be eligible for the loan relief program which disqualifies anyone earning over $125,000.
Eligible applicants are limited to $10,000 in relief, unless they are recipients of Pell grants, intended for low-income students, in which case they can get up to $20,000.
Officials say the typical undergraduate student who takes out loan leaves college with almost $25,000 in debt.
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