Summary
President Biden announced student loan forgiveness for 150,000 additional borrowers, raising the total to over 5 million under his administration.
The latest beneficiaries include borrowers defrauded by schools, individuals with disabilities, and public service workers.
Biden emphasized his focus on expanding pre-existing forgiveness programs after his broad plan was struck down by the Supreme Court in 2023.
Conservatives and Trump argue the efforts overstep executive authority and unfairly shift costs.
Biden called the initiative a fulfillment of his promise to reduce financial barriers to education.
I dunno, if Trump 2 treats student loans, and especially the Borrower Defense Loan Discharge program the way the Trump 1 administration did - blocking various ‘streamlining’ procedures, imposing a statute of limitations, and using the Secretary of Education’s discretionary powers to block, delay, and minimize repayments, then it will be a long time before they rack up Biden numbers.
To be clear, my point is due to the huge amount of student loan debt, neither Biden or trump did enough, and neither would do more in the next four years regardless of if Biden had run and won like he thinks he would have.
These are performative gestures that don’t really accomplish anything.
Clapping when your team does it actively hurts everyone because then they stop, they got what they wanted, the PR boost.
So while Biden did performative meaningless shit, so did trump.
Don’t clap for stuff like this either.
https://www.npr.org/2019/08/21/753213306/trump-signs-executive-order-forgiving-all-federal-student-loan-debt-for-disabled
Or this
https://www.forbes.com/sites/zackfriedman/2017/04/26/student-loans-trump/