one item that made the cut restarting those student loan payments. if they just keep coming back to haunt. does all have all you need to know about the pause ending, and the long term impact that borrowers having to cough up the money again. plus, its pride month and we re talking to chasten buttigieg, his new book i have something to tell you about young of. outside the right-wing campaign to ban lgbtq books and schools and libraries. i m symone d. sanders townsend, and i have something to say. now that the president has signed the debt ceiling bill into law, it s becoming clear just what s in it. and today democrats and republicans are defending how they voted on the bill. now the bill is a far cry from the 843 billion dollars in non-defense discretionary spending initially proposed in the presidents 2024 budget. the steel cap spending at 704 billion dollars. according to the congressional budget office. and now here s an exchange for raising the debt ceiling until
Lets get more from our political correspondent, iain watson, whos in the newsroom. Just tremendous of the background of where we are today. The just tremendous of the background of where we are today. Where we are today. The socket on the aer where we are today. The socket on the paper in where we are today. The socket on the paper in the where we are today. The socket on the paper in the times where we are today. The socket on the paper in the Times Newspaperl the paper in the Times Newspaper reported a bizarre story where, last december, apparently, according to the times, had met a local official in his party at 315 in the morning demanding £5,000 what she said as A Matter Of Life And Death because she had to be released from a flat in which he was locked by some bad people. In addition to this, the Times Newspaper also alleged that some other funds that were meant to be used for a company will use for private medical bills for mr menzies as well. He told the Times Newspaper that h
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interest rates that were set before student loan payments were first paused. when will these payments are seen, the debt ceiling does not address president biden s executive action to forgive between $10,000 for non and $20,000 for pell grants recipients in federal student loans. the supreme court will issue a decision on the executive action this summer. and frankly it s likely that they will strike it down. i would like to be wrong, but i m just gonna be real. the question is where will this lead the one in five americans with student loans? the administration says they forgiven millions of dollars in federal student loans already. here s a layout about who s received aid so far. according to cnbc 42 billion in approved public service loan forgiveness, 3.9 billion dollars to for profit colleges whose campuses closer defrauded students. and 9.1 billion dollars for borrowers with disabilities.
has to go to the federal government to get their student loan. what the federal government has done, dealt out the private sector, lending money at 6.4%, borrowing it at 2.6%, the difference greta: 4% spread guess to the government. 9.1 billion dollars of money created by the student loan takeover by the federal government is going to pay for health care. it is not enough to increase taxes on these students when they get a job that s what will happen to them unthis health care bill. it is not enough to pass on two trillion dollars worth of debt that is what happens when you look at this bill in perpetuity. you got to hit them while they are in school, this stinks. greta: this 4% spread is the cost to the students still the same just a question of where the 4% goes? average student will be spending $1700 to $1800 more during the life of their loan