If action upon 12 years of universal education not taken on time, we will go outcompeted.
The four-year university education cost become three times costlier in last 40 years.
Pell Grant is a subsidy the U.S. federal government provides for student who need it to pay for college.
The pandemic made things worse. So, Secretary of Education, Cardona planned for more breathing room for people so that they have less burden of student debt.
The first decision is we will wound up pandemic relief program for student loan. Student loan payment will start from 31stDecember,2022.
The second decision is If you make under $125000 a year, you will get $10,000 waive off student debt. If you are eligible for Pell Grants along with making $125000 a year, then additional $10,000 will be waive off i.e. total $20,000 student debt waive off.
The third decision is no one with undergraduate loan today or in the future will have to pay more than 5% of their discretionary income to repay their loan