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Aug 25 • 4 tweets • 2 min read
U.S. President Joe Biden on Wednesday announced a plan to wipe out some #student #debt. Up to 20 million borrowers will see their debt completely eliminated.
The debt cancellation is reserved for those who earn less than $125,000 per year or families who earn less than $250,000 per year.
The total amount of outstanding student debt in the U.S. reached $1.75 trillion by the end of 2021, according to the Federal Reserve.
Student loans are the second largest category of #household debt in the U.S., far behind housing debt. #Auto loans are the third largest category, currently at $1.3 trillion. #studentloans

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More from @cgtnamerica

CGTN America Profile picture
Aug 25
#China has issued an orange alert on Wednesday for #drought as a scorching #heatwave sweeps across much of the country. ImageImageImage
Parts of Jiangsu, Anhui, Henan, Hubei, Zhejiang, Fujian, Jiangxi, Hunan, Guizhou, Chongqing, Sichuan, Shaanxi, Gansu and Tibet suffered from moderate to severe droughts, according to the National Meteorological Center.
In the next three days, precipitation in parts of the Yellow River, Huaihe, Jiangsu, Anhui and Sichuan basins will ease the drought, high temperature and dry weather will continue in other regions. ImageImageImage
Read 5 tweets
CGTN America Profile picture
Aug 25
Exactly three months after the horrific massacre of 19 children and two teachers by a deranged gunman, the Uvalde, Texas school district fired police chief Pete Arredondo for the botched response to the attack. Image
The board of trustees of the Uvalde Consolidated Independent School district unanimously voted late Wednesday to remove Arredondo, who was not present at the meeting.
Lawyers for several of the victims’ families said this week that they may sue the Uvalde school district along with city and state officials for claims totaling $27 billion for alleged negligence and failure to act on May 24 as the violent events unfolded.
Read 4 tweets
CGTN America Profile picture
Aug 25
Ambassador Qin Gang greeted dignitaries, scientists, executives, parents, and "panda fans" who gathered to commemorate 50 years of U.S.-China partnership and progress in Giant Panda conservation and breeding.
The embassy was adorned with panda emblems and souvenirs, and served panda-shaped appetizers and traditional food from Xichuan, the panda's home.
Dr. Pierre Comizzoli, reproductive cryobiologist at the Smithsonian Conservation Biology Institute said, "We are using science as a tool for diplomacy, diplomacy as a tool for science. It's really beautiful."
Read 4 tweets
CGTN America Profile picture
Aug 24
Close to 43 million Americans are expected to be relieved from U.S. President Biden’s plan to forgive up to $10,000 in student loan debt and up to $20,000 for those who utilized Pell grants to attend college.
Biden addressed Americans on Wednesday with the Secretary of Education and spoke of his own college experience and the burdens of many who go forward into their dreams saddled with debt that was made worse by the pandemic.
Biden confirmed that on December 31 the pause on student loan payments would end.
Read 5 tweets
CGTN America Profile picture
Aug 23
Countries in the Northern Hemisphere, like the U.S., Europe and China, are facing an unparalleled heat wave, putting many people’s lives in danger from the hot weather. #GAI #WorldOfSustainability #GAISustainability ImageImageImage
But the heat waves and subsequent droughts are also having a major impact on these major economies. #GAI #WorldOfSustainability #GAISustainability ImageImageImage
Take a look at how. #GAI #WorldOfSustainability #GAISustainability ImageImageImage
Read 4 tweets
CGTN America Profile picture
Aug 23
As the U.S. prepares to announce a new security assistance package for Ukraine of close to $3 billion, in what would be the largest tranche to Kyiv since the conflict began, the U.S. government is also urging Americans to leave the country. Image
A U.S. official said they had intelligence that Russia is stepping up its efforts ahead of Ukraine’s Independence Day on Wednesday, and says Americans should leave the country immediately. Image
Ukraine’s President Volodymyr Zelenskyy warned Moscow of a powerful response if Russian forces carried out attacks on or around Ukraine’s Independence Day. Image
Read 7 tweets

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