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NNPA NEWSWIRE — With the freeze placed on student loan repayments set to end Dec.  31, Biden has gotten behind the Democrat-led House’s HEROES Act, which calls on the federal government to pay off up to $10,000 in private, nonfederal student loans for economically distressed borrowers. “People having to make choices between paying their student loan and paying the rent … debt relief should be done immediately,” Biden stated during a news conference on Monday, November 16. By Stacy M. Brown, NNPA Newswire Senior National Correspondent President-elect Joe Biden

Wealth gap costs over last two decades: $2.7 trillion in Black income, $16 trillion to U.S. economy By Charlene Crowell America’s persistent racial income and the wealth gap reality are the result of four intertwined factors: housing, education, business ownership and access to credit. Closing these gaps would facilitate inter-generational wealth creation for Black America and also expand the nation’s economy by $5 trillion over the next five years. These findings come from an extensive report newly-released by a major bank. According to Closing the Racial Inequality Gaps: the Economic

Nationally in 2018, Black households earned 61 cents for every $1 of White household median income. Further, the Black/White median household income gaps ranged from 87 cents per dollar in Maine and Hawaii, down to 32 cents per dollar in the District of Columbia. The disparity in median translates into 22% of all Black Americans living in poverty, a gap of 13% compared to Whites who are poor. Wisconsin’s gap is 23%. “In noting the socioeconomic indicators of median income, poverty rates and health insurance rates, I found