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Do you support President Biden’s student debt forgiveness plan?

Tens of thousands of Maine adults could see student loan debt canceled as part of the plan announced Wednesday by President Joe Biden to provide the financial assistance to millions of Americans.

The plan would provide $10,000 in student debt cancellation and up to $10,000 more for those with the greatest financial need who are receiving federal Pell Grants. Eligible borrowers would need to earn less than $125,000 a year, or families earning less than $250,000.

More than 170,000 Mainers are estimated to be eligible for the student debt forgiveness.

Supporters of the measures they it will help narrow the racial wealth gap, since Black students are more likely to borrow federal student loans and at higher amounts than others. Some critics of the plan say it doesn’t go nearly far enough, while many Republicans in Congress question the president’s authority to cancel debt on his own and claim the measures would unfairly burden lower-income taxpayers and those who have already paid off their student loans with covering the costs of higher education for the wealthy.

But what do you think? Do you support President Biden’s student debt forgiveness plan? Will it affect you or someone you know, and if so, how? Let us know what you think in the poll and comments below.

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