at mar-a-lago. and cutting it close. the freeze on student loan payments is set to end this month and borrows aren t the only ones in the dark about what s going to happen next. it s the weekend, saturday, august 20th. we re so grateful to be a part of yours. thanks for joining us. sounds like you were well rested last night or something. almost never. almost never. well you do a good job of faking it. good to be with you, boris. a lot of news to get to this morning. first, the white house defending its response to the spread of monkeypox across the u.s. and implementing its new aggressive plan to control the outbreak. yeah. more than 14,000 monkeypox cases in the united states. more than a third of all cases in the world. and listen to this, in the last three weeks the number of monkeypox cases in the u.s. has nearly tripled, according to the cdc. the biden administration declared monkeypox a public health emergency earlier this month after facing criticism tha
executive action and take a look at how it could impact the economy. plus, with the primary election calendar winding down, we look ahead to november, and the key races that could decide control of congress. also ahead, new reporting on the communication between the government and donald trump s team before the fbi search of mar-a-lago. good morning. and welcome to way too early. on this thursday, august 25th, i m sam stein in for jonathan lemire. 43 million people are in line to have a chunk of their student loan debt erased. as many as 20 million could cancel all student debt and that is executive action yesterday by president biden, the president pushed back at criticism that debt cancellation will make inflation worse. 20 million people who can start getting on with their lives. all this many people can start finally crawling off from under that mountain of debt. again, to get on top of their rent or utilities. to finally think about buying a home or starting a
significant announcement for americans who ohio for student loans, how significant and how soon can they expect relief? this is hugely significant. biden is really transforming here the federal student loan portfolio, with at last tally was something north of $1.6 trillion owed by roughly 43 million americans. so as you mentioned in the opening, tens of millions of americans are in line for $20,000 of debt relief, tens of millions additional in line for $10,000 of debt relief. so the amount, shear amount of debt that is being canceled here is by far unprecedented, in the history of the federal student loan program. this is really a, the administration really transforming the landscape here, and in some ways, it went
that s something we brought up, we have to really focus on. how do we convince families to understand that college is an investment that needs to have a good r.o.i., not just go to the most prestigious and most expensive constitution, the one that will give you the value and economically beneficial to you when you leave college. that s something we have to really focus on and that s my concern about all this discussion about payment pause and what we do forgiveness. what we really need to focus on is reducing the need to borrow and making sure people are getting a real value for their education. also a complicated problem for a lot of these borrowers, many of them most of them never even finished school, right? that is absolutely a huge problem. we look at student loan repayment, one of the biggest drivers of default or real distress in student loan portfolio associated with people who never completed their degree. they don t really have a tradeable economic valuable asset. right?