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MSNBC Morning Joe July 7, 2024

families. it helps both current and future bowers and will fax a badly broken system. and these actions build on my administration s efforts to make college more affordable in the first place. nbc s tom costello now with more on the plan and the mixed reaction to it. reporter: president biden fulfilling a campaign promise. cutting american student loan debt. it focuses the benefit on middle class and working families. reporter: but he s also stirred up a hornet s nest of backlash. i feel it is a little slap if the face to those who worked hard to pay it off. reporter: and from republicans who say it unfairly benefits americans who choose to go to college while ignoring those who don t. like truckers, plumbers, welders and retail workers. a lot of americans choose not to go to college. and then there are those americans who bought money to pay for school and paid it back. in what way is it fair to those taxpayers? reporter: many also argument the presiden ....

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MSNBC Morning Joe June 4, 2024 13:02:00

In what way is it fair to those taxpayers? reporter: many also argument the president exceeded his authority by slashing federal student loans. it effected 43 million americans. forgiving loan debt of up to $10,000 each for those earning less than $125,000. 27 million americans who received need based pell grants will get an additional $10,000 in loan forgiveness. a big relief for chrissy who has roughly $40,000 in student debt. it doesn t feel achievable to pay down. the $10,000 debt relief for me, it is not just a financial lift, it is even like a mental lift. reporter: president biden has been under pressure from his own party to forgive as much as $50,000 in debt. with lower and middle income americans struggling most to afford higher ed. it is definitely a step. i think more is needed. reporter: the average house with student debt owes nearly ....

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