Fact Check: Biden Promised Black America He Would Forgive HBCU Loans But Hasn’t
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Posted By: S. Moore on January 12, 2023 There has been a political battle over President Joe Biden’s proposed student loan forgiveness program, which would forgive a set amount on loans for students overall. But did Biden proposed full debt forgiveness for students of Historically Black Colleges and Universities? Yes, while Biden was campaigning for president during the 2020 campaign cycle, this was one of the promises he made. The proposal was limited to HBCU students making less than $125,000 per year, VerifyThis reported. And as to date, the campaign promise have not been fulfilled. Then-candidate Biden wrote a post on Medium on April 9, 2020, detailing his proposals, and mentioning his plan for HBCU loan forgiveness. Under this plan, I propose to forgive all undergraduate tuition-related federal student debt from two- and four-year public colleges and universities for debt-holders earning up to $125,000, with appropriate phase-outs to avoid a cliff. The federal government would pay the monthly payment in lieu of the borrower until the forgivable portion of the loan was paid off. This benefit would also apply to individuals holding federal student loans for tuition from private [Historically Black Colleges and Universities] and [Minority-Serving Institutions],” he wrote. Then in July 2020, Biden and Bernie Sanders assembled a group of policy experts for the “Biden-Sanders Unity Task Force” to formulate a proposed agenda for a potential Biden administration, Vox reported. The recommendations included a proposal to eliminate debt for public and HBCU borrowers. The “Higher-Ed Priorities and Proposals” stated: “Forgive all undergraduate tuition-related federal student debt from two- and four-year public colleges and universities for debt-holders earning up to $125,000, with appropriate phase-outs to avoid a cliff. This benefit would also apply to individuals holding federal student loans for tuition from private HBCUs and MSIs.” And, the official Democratic Party Platform approved at the 2020 Democratic National Convention also spoke of HBCU loan forgiveness. “For those earning less than $125,000, we support forgiving all undergraduate tuition-related federal student debt from two- and four-year public colleges and universities, and we will also apply this benefit to individuals holding federal student loans for tuition from private HBCUs and MSIs,” the platform stated. SOURCE The mogul nation If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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