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President Joe Biden got tongue-tied trying to recite the name of a student loan forgiveness website providing information on a new plan to help save borrowers money as payments resume this month.

During an announcement Wednesday on a new Education Department initiative to lower monthly costs to student loan borrowers, Biden couldn’t seem to recite the website’s URL from the teleprompter.

‘No one with an undergraduate loan today or in the future, whether a community college or a four-year college, will have to pay more than 5 percent of their discretionary income to repay these loans,’ Biden said during remarks unveiling the new plan.

He explained: ‘That’s income after you pay for necessities like housing, food and other necessities. You can sign up for the SAVE plan at studentaid.gov/save.’

But after correctly reading off the website’s URL, Biden had issue repeating it.

‘Student aid dash gov sla – student aid dash, student aid dot gov slash save,’ he said – finally getting it right at the end after fumbling the order of the dots and slashes.

President Joe Biden repeatedly stumbled through reciting the URL of a webpage providing information on how to apply for an income driven repayment plan as student loan payments resume this month after more than three-and-a-half years of deferment

‘And remember, if you keep up your payments, after 20 years, whatever is left in those loans is forgiven,’ the president added. 

Biden, 80, is known for his frequent gaffes and word salad moments. He often mumbles or trips-up his words when reading off a teleprompter.

The increasingly high rate of these gaffes has led to concerns over Biden’s age, as well as his mental and physical fitness for office. Notbaly, a poll last month showed that 77 percent of voters are concerned with Biden’s age and think he is too old to seek another four years in office.

But that’s exactly what he’s doing. Biden and Vice President Kamala Harris are running their reelection for 2024 virtually unopposed.

Longshot Marianne Williamson is running in the Democratic primary – as well as Robert F Kennedy Jr., who is expected to announce last week that he is running as an independent now.

After years of payment and interest accrual deferment sparked in March 2020 by the global COVID-19 pandemic, student loan payments are finally resuming this month.

For the first time in three years and seven months, most Americans with outstanding student loans will need to make their payments. Interest accrual resumed last month.

With this has come increasing anxiety over how average Americans will pay for their increased daily costs due to record inflation and a recession along with the resumption of payments sometimes reaching the high hundreds to nearly thousand-dollar mark.

Typing in ‘studentaid.gov/save’ will redirect users to a page detailing how the SAVE income driven repayment could help lower their monthly payments for student loans

Biden’s attempts to cancel student debt and lower monthly payments comes after his widespread plan to erase up to $20,000 for most borrowers was shot down by the Supreme Court this year

Earlier this year, Biden’s administration unveiled a repayment plan dubbed the SAVE plan, which sets borrowers’ monthly payments based on what they are making in monthly income. It’s also meant to prevent balances from increasing exponentially due to unpaid interest.

Biden has repeatedly added new programs to the growing lists of initiatives to lower or cancel student loan debt over the last two years.

It comes after the Supreme Court shot down his sweeping plan to forgive $10,000 in student loans for most borrowers making under a certain threshold of annual salary – as well as up to $20,000 for recipients of a Pell Grant.

Another plan protects borrowers colleges that engaged in deceptive practices and those who took career programs that resulted in unaffordable debts based on what they were able to earn after obtaining the degree.

The White House touted that Biden has approved $127 billion in student debt cancellation for nearly 3.6 million borrowers.

The new income driven repayment plan should apply to approximately 885,000 borrowers and could save nearly $42 billion overall. They claim the new program will help fix inaccuracies to lower monthly costs.

Additionally, through Public Service Loan Forgiveness programs, $715,000 people working for the government should receive a combined $51 billion in debt cancellation that was previously not being honored.

Content source – www.soundhealthandlastingwealth.com

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