Warning: Constant WP_DEBUG already defined in /home/u481671540/domains/lifestyleug.com/public_html/wp-config.php on line 75
What Is The Heroes Act & Does It Allow Biden To Forgive Student Loans?
Lifestyle UG
  • Home
  • News
  • Tech
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Real Estate
No Result
View All Result
Lifestyle UG
  • Home
  • News
  • Tech
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Real Estate
No Result
View All Result
Lifestyle UG
No Result
View All Result
ADVERTISEMENT
Home News Top News

What Is The Heroes Act & Does It Allow Biden To Forgive Student Loans?

Jacob Evans by Jacob Evans
1 March 2023
in Top News
Heroes Act & Does It Allow Biden To Forgive Student Loans

The Heroes Act is the largest COVID-19 relief package that has been passed by both chambers, the House of Representatives and the Senate of the U.S. Congress. 

ADVERTISEMENT

Table of Contents

Toggle
  • What Actually Is The Heroes Act?
  • The Policies Under The HEROES Act And Estimated Fund Are: 
  • Does The HEROES Act Let Biden, The U.S. President To Forgive Student Loans?

What Actually Is The Heroes Act?

The HEROES Act is described as the one that vests the Secretary of Education with the expansive authority to alleviate the hardship that federal student loan recipients may suffer as a result of national emergencies or military operations. 

The HEROES Act, or the H.R. 6800, is an acronym for the Health and Economic Recovery Omnibus Emergency Solutions Act was proposed with 3 trillion US dollars as an aid to the COVID-19 pandemic.

The amount was a part of the stimulus package, a monetary policy that the federal government usually announces as an attempt to stimulate the economy, and was purposes to supplement the CARES Act stimulus package, the Coronavirus Aid, Relief, and Economic Security Act signed by the former President Donald Trump as a 2.2 trillion US dollars economic stimulus bill. 

ADVERTISEMENT

The bill was sponsored by Nita Lowey, the Democratic representative from New York on May 12, 2020. The bill was passed on May 15, 2020, for a vote that at 208 against 199 by the United States House of Representatives, the lower chamber of the U.S. Congress. 

Further, in December 2020, Congress decided on 900 billion US dollars as the stimulus package. 

In order to the assistance to the debtors of the student loan at the federal level, the Act has provisions to provide financial aid at state, local, and tribal levels. It can also assist the territorial levels, that is the subnational administrative division under the U.S. 

The Policies Under The HEROES Act And Estimated Fund Are: 

THE HEROES ACT POLICIESESTIMATED FUND
To Provide Student Loan Relief and Funding for Higher Education191 billion US dollars
To Provide Aid to the State and Local Governments1.13 trillion US dollars
To Increase Safety Net Spending485 billion US dollars
To Provide Additional Rebates435 billion US dollars
To Increase Health Care-Related Spending382 billion US dollars
To Support Small Businesses and Employee Retention290 billion US dollars
To Reduce Individual Taxes290 billion US dollars
To Increase Housing-Related Spending202 billion US dollars
To Establish Hazard Pay Fund for Essential Workers190 billion US dollars
To Increase Communications-Related Spending32 billion US dollars
To Provide Pension and Retirement Relief48 billion US dollars
To Increase Agriculture Spending31 billion US dollars
To Limit Business Loss Deductibility-254 billion US dollars

Does The HEROES Act Let Biden, The U.S. President To Forgive Student Loans?

No, the HEROES Act does not let the President of the United States of America to forgive student loans.

One of the higher education experts asked that if the student education loans were an emergency then why the President had to wait three years to provide the forgiveness. The expert further asked why the president had to present it in a political framework as fulfilling a campaign promise. 

Joe Biden had earlier announced in the August of last year, 2022, that the federal government would forgive 10,000 US dollars in national student loans for borrowers who earn under 125,000 US dollars per year and for those couples who earn under 250,000 US dollars per year.

Biden had also made another announcement that substantial changes would be made to the already existing loan forgiveness programs. 

The maximum forgiveness amount was announced to be raised to 20,000 US dollars for the beneficiaries of the Pell Grant, a federal government incentive for those students for whom financial assistance is essential to complete their undergraduate degree. The students should be pursuing their first bachelor’s program. 

As per the initial reports from the Committee for a Responsible Federal Budget, already existing loan forgiveness programs would levy an amount between 500 US dollars to 650 US dollars from the taxpayers of the nation. 

Also Read:- AI-Powered Tools Coming To Whatsapp, Messenger, And Instagram

Biden said that spending this huge of an amount could not be canceled without first getting approval from the U.S. Congress by invoking the HEROES Act.

The Act was instituted during the period of the 9/11 attacks by which the federal government can assist the soldiers of the war who were compelled to draw out of colleges and universities to take part in active duty, with student debt relief. 

The President and his allies view that the COVID-19 pandemic which acquired the status of a national emergency in March 2020 and still has not ended should also be considered under the HEROES Act category of national emergencies. 

George Miller a former U.S. representative, and the co-sponsor of the Heroes Act when it was inducted back in 2003, said that there was no question that the covid-19 pandemic was a national emergency within the meaning of the law. He added that the law specifically states that a national emergency would include any event that the President declares as a national emergency. 

On the previous day, the Supreme Court of the nation had heard the arguments of the case that had made the judges restrict the 400 billion US dollars in student loan forgiveness program proposed by Biden. The forgiveness program was supposed to relieve each borrower of an amount of 20,000 US dollars. 

Nancy Pelosi, the House Speaker had earlier in 2021, stated that the  President could only postpone or delay the student loan but he does not have the power to forgive it. Pelosi added that it would take an act from the U.S. Congress and just an executive order cannot carry out the student loan cancellation. 

Read More:- What To Expect As Student Loan Forgiveness Heads To The Supreme Court

Related Posts

Why Did Tyra Sanchez Get Arrested?

Tyra Sanchez Arrested: Why Did Tyra Sanchez Get Arrested?

16 June 2023
EAC Has Extended The Term Of The Regional Force In Congo Until September

EAC Has Extended The Term Of The Regional Force In Congo Until September

2 June 2023
Sergio Calderón, Men In Black & Pirates Of The Caribbean Actor Passes Away At 77

Sergio Calderón, Men In Black & Pirates Of The Caribbean Actor Passes Away At 77

1 June 2023
Uganda Puts Up A Brave Front With US Penalties Looming Over An Anti-Gay Bill

Uganda Puts Up A Brave Front With US Penalties Looming Over An Anti-Gay Bill

29 May 2023
Biden And McCarthy Agree To A Plan To Prevent A Default On US Debt

Biden And McCarthy Agree To A Plan To Prevent A Default On US Debt

29 May 2023
Malaba Locals Are Concerned About Increased Insecurity

Malaba Locals Are Concerned About Increased Insecurity

26 May 2023
Please login to join discussion
ADVERTISEMENT

Connect

  • Contact Us
  • Write For Us
  • Advertise
  • Submit A Tip
LifeStyleUG

About

  • About Us
  • Authors
  • Code of Ethics
  • Terms Of Use
  • Disclaimer
  • Privacy Policy
  • Editorial Policy
  • Cookie Policy
  • Cookie Preferences
  • Corrections Policy
  • Ownership and Advertising Policy
  • DMCA Policy
  • Fact Checking Policy
  • Grievance Redressal
  • Community Guidelines
  • Work for Us

Download Our Mobile App

Get the latest worldwide news, reviews, and info on businesses, finance, entertainment, travel, culture, and health with the Lifestyle UG News App.

DMCA.com Protection Status

Registered Address: Revolut Media LLC, 88681, 111 NE 1st St, 8th Floor, Miami, Florida, Miami-Dade, United States, 33132
© 2023 LifeStyle UG – Top Trending News! Content may not be reproduced in any form without written consent.

No Result
View All Result
  • Home
  • News
  • Tech
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Real Estate

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
SAVE & ACCEPT