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The Journal Editorial Report

be doing. paul: they are not making any changes at all to the programs but piling more debt in the future. you have an interesting point in your column this week that student loan borrowers haven't benefited from the pause in payments during the pandemic as much as asserted by politicians so explain why that is. allysia: it depends how you define benefit. student borrowers take on more debt. student loan borrowers, the share of student loan borrowers increased by 50% so they benefited in terms of buying more things, cars, take out mortgages. they have more debt and struggle, we are seeing that, jpmorgan announces the top quarter of student loan borrowers, the delinquency rates are 25% above pre-pandemic levels.

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America Reports

grandchildren live is racist is just indecent and it's not coming from the chinese embassy and the propaganda of the chinese state. >> john: 81 bills in states to address this. >> sandra: thank you mr. secretary. team biden out with a new bail-out for student borrowers after the supreme court struck down the last one, but it could cost taxpayers, wait for it, hundreds of billions of dollars. how much are you on the hook? >> john: plus, inflation seems to be putting the squeeze on the middle class, making it tough for them to buy cars and homes. but aren't they the very group that bidenomics is supposed to be helping? our panel is coming up next. age is just a number, and mine's unlisted.

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CNN Newsroom With Jim Acosta

this website. but student borrowers can go in and subm tir applications now. who exactly would qualify fo this plan? it would apply to currend future federaldent loan borrowers. private loans arnot a part of the repayment plan, and the plan would be based on people's incomes and their faly size. the department of education is estimating around a million people could potentially have their payments go down to zero each mon based on this plan. it will be based on discretionary income. that's tome you have after you payo taxes and other living expenses. and justo give you an ideaho would qualify for that zero dollar monthly payment, it would making $32,805 or less, or families of four makieing $67,5 or less. there would be other components as well where people might see lower payments. now ultimately, when this plan is in effect for in the coming

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CNN This Morning Weekend

down. maybe they deal side to impeach me because it's coming down. i don't know. i love that one. well, anyway, that's another story. >> reporter: so there we heard a very clearly bullish president biden talking about the economy, but there are some warning signals ahead. first of all, we know in october that's when the student repayments begin for student borrowers. we know they're going to take the money they've been spending in the economy out and redirecting it to their stay tuned loan payments and a recent surge in gas prices. something one white house official told cnn they're watching very, very closely, but i think this moment in time that the white house was described perfectly by maryland representative steny hoyer who said yesterday at the white house, this is not time for a victory lap but an education lap as the white house continues to try to show americans exactly

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CNN This Morning Weekend

i love that one. that's another story. >> reporter: that was a pretty bullish language that we heard from president biden on the economy. but there are some warning signs ahead. first of all, we know that student repayment for student borrowers, the first time that's happening since the pandemic, meaning they are going to take money they are using currently in the economy out to pay the student loans. and secondly, a recent surge of gas prices, something that this administration says they are watching very, very slclosely. but one representative from the house yesterday at the white house described the moment this white house has been saying this is not victory lap time. instead this is educational lap t time, as the white house is trying to convince americans they are doing positive things for them heading into the 2024 season.

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CNN Newsroom

>> so a bullish president biden talking about the taking a swipe at republicans. but there are some warning signs ahead. student repayment starts back for student borrowers, the first time since the pandemic. also as well as a recent surge in gas prices, something that a white house official told cnn that the white house is watching very closely. but one precise way to sum up this moment was actually given to us by congressman hoyer. he said it's not victory lap time, but it is continuing education time. as the white house continues to show what positive things they are doing for them as the presidential campaign marches towards 2024. >> jasmine wright in delaware, thank you. extreme temperatures that have been baking the country for weeks now will stick around this weekend. stifling heat is stretching from

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FOX and Friends Saturday

student loan debt? >> yeah. good morning to you, pete. if at first you don't succeed, try, try again. we teach our kids that. i don't know the legal aspects to it. now e the -- i know the business aspects, the financial aspects, but as a layperson, it doesn't seem like our founding fathers had in mind -- [laughter] that someone could wake up in the morning and decide to strike $39 billion in taxpayer money. i'm not sure how they're going to do this, but i suspect we'll see a challenge or two. president i was talking to dr. saphier right before this segment. she mentioned if you're paying off student loans for 20-25 years which is one of the qualifying measure, you probably went to law school or medical school, you've got a ton of debt, you're paying off minimum. who's the white house trying to help with this? >> well, it's pretty clear, i mean, if you look at some of the numbers, there's -- most of the student borrowers out there today, pete, owe about $10,000 or less than $20,000, for sure.

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CNN Newsroom With Fredricka Whitfield

down president biden's previous plan to eliminate billions in debt. cnn white house reporter jasmine wright has more. and the plan will fix what he calls the broken system. what exactly does the program do? >> the program is about fixing what the white house has called historical inaccuracies felt by borrowers who are under the income repayment plan, and so what he is going to do is basically those borrowers who have been paying under that program for more than 20 years, and who expect to see the balance of their student debt lighten, this action would do that automatically, fitting in line with president biden's promise to try to erase debt wherever he can for student borrowers. now we know, as you said in the top there, that it is going to have really a big impact. $39 billion of debt wille erased by this new action. and it will have had 800,000

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The Beat With Ari Melber

money, you're going to have to get it appropriated through congress, you can't just size it, they put it, others put it differently. is this a reset to the drawing board to do something else for student borrowers? people want to know, they need to plan their lives. or should people basically not count on anything else coming out of this administration for those issues? >> i wouldn't say that. when the decision by scotus, the supreme court on student loan, the president's student loan plan, came forth, the president came out with his own plan. we believe their decision was wrong. we believe we have the legal authority. again, we don't -- there's been some unprecedented actions taken by the supreme court. we've been very clear about that. we're going to continue to fight. this is a president that has probably fought more to give that relief, to give that breathing room to americans that really want it. if you think about his original plan, it was giving relief to 90% of americans who make $75,000 or less. that's what we're talking about. now the president is going to -- the department of education is

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Loan Wolves

the news coverage was not encouraging. - student loan debt in this country is now bigger than credit card debt. - and what does it do? it not only hurts these students. that's our number one concern. it kills the whole economy. - they're delaying having kids. they're delaying getting married. they're delaying buying houses. - i think it's a crisis right now for families and student borrowers. - it wasn't just the borrowers. economists and pundits across the political spectrum were warning this could have drastic effects on our economy. - for that is the student loan bubble. - yeah, even him. - down to $1.5 trillion and counting. - crushing student debt. - was there a story here? to find out, i did what any good journalist would. i googled it in the middle of the night. every opinion column, every quote in a news story, all came down to the same one expert, alan collinge-- one of the nation's foremost experts on student debt. this guy was everywhere... except an easy-to-visit location. [light music]

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