On Thursday, Aug. 24, President Biden, Vice President Harris and the U.S. Department of Education announced a three-part plan for Student Loan Debt Relief. The plan includes up to $20,000 in debt relief for working and middle-class federal student loan borrowers.
"Many of you had to leave school because the financial strain was much too high. About a third of the borrowers have debt but no degree and — worst of both worlds: debt and no degree," President Biden said in remarks from the White House. "The burden is especially heavy on Black and Hispanic borrowers, who on average have less family wealth to pay for it. There’s no — they don’t own their homes to borrow against to be able to pay for college. And the pandemic only made things worse."
Dr. Riginal Brazzle, director of the Office of Financial Aid, Scholarships and Veteran's Affairs sat recently sat down with 12NewsNow to weigh in on how and why President Biden's student loan forgiveness plan will heavily impact Black students and graduates.