Plus, a US missile strike in Syria.
Biden cancels $10,000 in student loans for millions; the US strikes eastern Syria. Tonight's Sentences was written by Jariel Arvin. |
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What's in Biden's student loan program? |
Olivier Douliery/AFP via Getty Images |
- President Joe Biden announced he would cancel $10,000 in student loans for borrowers earning less than $125,000 per year or households earning less than $250,000. [NBC News / Lauren Egan, Kristen Welker, and Ali Vitali]
- Low-income students who received Pell grants — around 60 percent of borrowers — are eligible for $20,000 in loan forgiveness. The administration estimates 90 percent of the assistance will go to households earning less than $75,000 per year. [New York Times / Zolan Kanno-Youngs, Stacy Cowley, and Jim Tankersley]
- While the relief is much less than the $50,000 some Democrats and advocates pushed for, the White House contends it will help up to 43 million people; 20 million borrowers could have their loans immediately canceled. [USA Today]
- The Department of Education also proposed slashing monthly payments and forgiving loan balances after 10 rather than 20 years. The pandemic-era pause on student loan repayments will be extended through December 31. [CNN / Phil Mattingly, Katie Lobosco, and Maegan Vazquez]
- Some critics say canceling the loans will worsen inflation by increasing consumer demand, and the plan may face challenges in court. [NPR / Cory Turner and Sequoia Carrillo]
- About 8 million people should be eligible once the program goes live because the Education Department already has their income information. Everyone else must submit an application, which will be available by the end of the year. [Vox / Kevin Carey]
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📍 If you read just one story Economists say there's no one-size-fits-all solution to the student debt crisis. [Vox / Emily Stewart] |
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The US launches retaliatory air strikes in Syria |
- On Tuesday, the US launched airstrikes against Iran-backed militants in eastern Syria. [NBC News / Courtney Kube]
- President Biden ordered the strikes in retaliation for an August 15 drone strike on a US base. The small number of US forces fighting the Islamic State in Syria have increasingly been under attack. [Washington Post / Sarah Dadouch]
- The US initially said there were no casualties in the strikes, which targeted infrastructure; however, Syrian human rights groups said 10 people were killed. [ABC News / Matt Seyler and Morgan Winsor]
- The strikes come as the US tries to renegotiate a deal to prevent Iran from obtaining a nuclear weapon. Iran denied any connection to the groups targeted. [CNN]
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Moderate Democrats, a candidate likely to be Congress's first Gen Z member, and a Democrat who staked his campaign on abortion rights were big winners in Tuesday's primary elections. [Li Zhou and Christian Paz] |
- Fighting broke out between Ethiopia and Tigrayan rebels on Wednesday, ending a months-long cease fire. [NYT / Declan Walsh]
- Police say far-right Rep. Marjorie Taylor Greene (R-GA) was "swatted"— police were alerted to a fake crime at her home — Wednesday. [CNN / Melissa Alonso]
- Wednesday, Ukrainian President Volodymyr Zelenskyy announced at least 15 people were killed in a Russian rocket strike on a Ukraine station. [Reuters / Tom Balmforth and Valentyn Ogirenko]
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"The inflationary impact it's certainly positive, but I don't think it would be much. We're talking about a pretty small impact. " |
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