Biden announces launch of student loan forgiveness application website | full video

President Biden officially launched the website for Americans with federal student loans to apply for student loan forgiveness on Monday, three days after his administration rolled out a beta test. Borrowers who received Pell Grants, which are for low- and middle-income families, can get as much as $20,000 in debt forgiven, while other borrowers can get relief of up to $10,000.

Relief and it’s simple and it’s now it’s easy it’s fast at the end of my remarks i’m going to have officially launched this new app new application site at studentaid.gov studentaid.gov you’ll be able to fill out your name social security number date of birth and contact information no forms to upload no special login to remember it’s available in english and in

Spanish on desktop and mobile it takes less than five minutes and if you have any questions you follow up we will be able to follow up with you this is a game changer for millions of americans we get moving and it took an incredible amount of effort to get this website done in such a short time i want to thank the secretary of education there he is secretary of

Education cardona who’s here with me today he and his team but a talent group of data scientists and engineers across the federal government and build it and test it and launch this new application in just weeks and the secretary insisted that the test that had to be tested over the weekend it landed and handled more than 8 million applications without a glitch

Or any difficulty we had over 10 000 people contact the white house and be either to send us letters or calls thanking us it means more than eight million americans are starting this week on their way to receiving a life-changing relief that they’re looking for it started today with millions more we’re going to have the opportunity to do it as well as millions of

People fill out the application we’re going to make sure the system continues to work as smoothly as possible so that we can deliver student loan relief for millions of americans as quickly and efficiently as possible my commitment was if elected president i was going to make government work to deliver for the people this this rollout keeps that commitment just

As i’m keeping my commitment to relieve student debt as borrowers recovered from this economic crisis caused by the once in a lifetime pandemic i hope god forbid i say once in a lifetime that gets me to another issue we need more funding for this but anyway for dealing with future pandemics but i want to be clear who’s going to benefit the most working people a

Middle class if you are in less than 125 000 a year you’ll get up to ten thousand dollars knocked off your student debt if you earn less than 125 000 a year and you receive the pell grant you’ll get up to an additional 10 000 knocked off that debt so a twenty thousand dollars in relief in total more than 40 million americans can stand to benefit from this relief

And about 90 percent 90 percent of that relief is going to go to people making less than 75 000 a year let me be clear out a dime will go to those in the top five percent of the income bracket period now let’s talk about who is against helping millions of hard-working middle class americans republican members of congress republican governors are trying to do

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Everything they can to deny this relief even to their own constituents as soon as i announced my administration’s student debt plan they started attacking it saying all kinds of things their outrage is wrong and it’s hypocritical i will never apologize for helping working americans and middle class people as i recover from the pandemic especially not the same

Republicans who voted for a two trillion dollar tax cut in the last administration mainly benefited the wealthiest americans and the largest corporations and didn’t pay for a penny but it racked up a deficit i don’t want to hear from republican officials again who heard who had hundreds of thousands of dollars even millions of dollars in pandemic relief loans the

Ppp loans but who now attack the working middle class americans are getting relief these are members of congress who receive those laws they didn’t do anything wrong but they qualified they qualified for up to in one case two million dollars and despite what the republican officials say we can afford we’re able to afford the student loan relief it’s because of our

Historic deficit reduction the republicans voted against on my watch the deficit fell by 350 billion dollars last year and we’re on track to reduce it by one trillion dollars this fiscal year we’re also set to reduce another 300 billion over the next 10 years because of the medicaid being able to negotiate drug prices but that’s not all and relieving student debt

We’re also resuming student loan programs student loan program that we paused during the pandemic come january folks have to start to repay their student loans if they’re qualified if they don’t qualify for this relief that means billions of dollars a year will start coming into the u.s treasury my administration’s plan is economically responsible and economically

Responsible course to ensure a smooth transition to repaying and preventing unnecessary faults and it also is focused on going after fraudsters who call borrowers they’re going to they’re going to receive these calls i tell anybody who has who’s qualifying for these loans or trying to qualify for these loans if you get a call pretending they’re from the government

Trying to help you with your loans let’s be clear hang up you never have to pay for any federal help from the student loan program you’re going to get calls if you do this and we’ll pay that you can get relief that’s fraud if you get any questionable calls please tell us by going to report fraud report fraud dot ftc.gov my message to fraudsters looking to cheat

The american people is don’t do it we’re going to hold you accountable let me close with this today mark’s a big step among others that my administration is taking to make the education a ticket to the middle class that folks can actually afford but don’t take my word for it as i said we received nearly ten thousand letters from across the country a woman in colorado

Wrote she grew up she said in a school lunch and food stamp programs started working at age 13 on her way to college to a good job until she was injured in an accident and couldn’t find full-time work she said her student loan debt was weighing her down but now she can’t quote breathe again a mom in california wrote how she received a pell grant to become a nurse

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She just had her fourth child in the stress of the pandemic pulls the weight of the student loans on her even more heavily making everyday life really hard but now she says that weight has lifted making life easier for her and something we don’t talk about very much a lot of seniors still carry burden of student debt whether for themselves or for their children

And grandchildren retiree in oregon wrote how she never missed a payment and says this relief quote means the world to her that’s what today’s announcement is about so let’s get started a new student loan application is now open if you have federal student debt please visit studentaid.gov it’s easy simple and fast and it’s a new day for millions of americans

All across our nation may god bless you all and may god protect our troops thank you it’s on this how happy to answer the question mr mr president on them the litigation could get in the way of this program yes it well that’s what’s going on right now litigation is is underway and i don’t think our our legends our legal judgment is that it won’t but they’re trying

To stop it how many people have already applied through this beta testing website do you know for eight and will people who have will they at some point become elegance forgiveness because they no longer are we are working on pathways there to support those but we’re moving as quickly as possible to provide relief there’s many people as possible thank you mr

President you offer assurances that they will soon be eligible we’ve been watching president biden speak about the student loan forgiveness program the program launched a beta test of the site over the weekend the president said the new website has 8 million applications so far his plan will provide up to twenty thousand dollars of debt relief for those who qualify

The president says the process will be quick and he also said it’ll benefit the working class president biden criticized the republican opposition to the plan cbs news congressional correspondent scott mcfarland joins us now he’s hosting red and blue tonight at 5 pm eastern and scott let’s get right into it the student loan forgiveness application website is now

Officially open as the president said it would be the moment he uh stopped talking basically today how is the white house framing this to critics who say it’ll cost way too much money for the u.s yeah lilia this has been something they’ve been arguing over several weeks since this was announced that this is an investment that will reap benefits for america for the

Students whose loans will be partially forgiven and for incentivizing college attendance college enrollment that in the longer term it pays off in the shorter term it’s hard to ignore the likelihood that this will add to the national debt or will add to government spending at a minimum there is certainly a political reality here i wouldn’t ascribe campaign motives

To this speech necessarily but we’re in an election cycle the president’s party needs young turnout there was abundant young voter turnout in 2018 in which the democrats scored big victories won control of the u.s house made big inroads in state legislatures his party very much needs that and the home stretch to the midterm elections that’s right scott i mean from

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Anthony solantis polling what we’ve learned is the democrats rely heavily on this you know on younger voters and this is obviously a program that is popular among them but the white house press secretary was asked why the president is not campaigning more this is the kind of message that democrats need to be spreading around is there a sense that the party will push

The president to campaign more or that the president could be perhaps a a liability if he shows up too much along with uh with candidates yeah there’s two things at play i think lilia let me address the first issue there are many political careers that have died when those politics missions hooked their hopes and fates on young voters it is unpredictable fickle

Group of voters that comes in waves and sometimes goes in waves that being said in the first midterm election of a presidential first term there’s only a select group sometimes of incumbents who want the sitting president to be there on the campaign trail historically that first midterm election goes against the party in power against the presidential incumbent

So sometimes scarcity is a good thing but there are areas of the country where the president will be well suited to be a surrogate we’ll see him go to florida the campaign on behalf of the democratic candidate for governor there charlie christ there’ll be spots but there’ll also be spots where each party’s nominee wants leaders in their party to stay away there

Are republicans who want former president trump to steer clear there are democrats will no doubt want the current president to steer clear that’s just a normal rhythm a normal reality of a midterm election and scott we’re too only two days away from the election uh you know there’s a big debate tonight what else can we expect on red and blue as you will host yeah

Big debate in ohio one of the senate races that’s peculiar is unlike any other democrats are quite confident they have an overachieving candidate perhaps one of their star candidates of this cycle the man on the left tim ryan long time ohio u.s house member former congressional staffer representing an area of ohio that has gone hard red in recent years the youngstown

Area on the right j.d vance the republican nominee endorsed by donald trump the question that is being begged in this ohio campaign is kind of overachieving democratic candidate do anything to win in ohio is it even feasible and if it’s not feasible with tim ryan is it feasible at all that’s the foundation behind this debate and behind this race which is why it

Is uniquely fascinating during the home stretch i mean and there you have one candidate which the thing he’s doing is staying away from the president scott mcfarland thank you you can watch scott mcfarland host red and blue tonight at five and six pm eastern we’re going to take an original cbs reports documentary yoga and wellness has become a place of anti

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Biden announces launch of student loan forgiveness application website | full video By CBS NewsliveBroadcastDetails{isLiveNowfalsestartTimestamp2022-10-17T191326+0000endTimestamp2022-10-17T192658+0000}