Biden to forgive $7.4 billion more in student loan debt for 277,000 borrowers | CNN Politics
www.cnn.com
The Biden administration said Friday that is using existing student loan forgiveness programs to cancel another round of student debt, totaling $7.4 billion for 277,000 borrowers.

The Biden administration said Friday that is using existing student loan forgiveness programs to cancel another round of student debt, totaling $7.4 billion for 277,000 borrowers.

Under President Joe Biden, the Department of Education has made it easier for some specific groups of borrowers, like public sector workers, to qualify for loan forgiveness. It also launched a new repayment plan that creates a shorter pathway to loan forgiveness for many low-income borrowers – and is at issue in at least two legal challenges from Republican-led states.

In total, the Biden administration has authorized the cancellation of $153 billion in student loan debt for nearly 4.3 million people. That’s more than 9% of all outstanding federal student loan debt.

  • @givesomefucksEnglish
    -6•7 months ago

    By that logic, initiatives are always affected by an election year.

    What? Just because Biden waits for an election doesn’t mean he has to…

    That’s my point he shouldn’t be waiting.

    The SCOTUS ruling didn’t happen until June, 2023.

    And Biden waited for the decision before ever thinking about this again, so when it was struck down he didn’t have anything on deck. Or more likely he had this and was just waiting till right before an election so he could get credit for something that wasn’t going to do anything.

    He didn’t even have a plan when he was elected, his first day in office he started talking about “looking into” if he should try and fufil campaign promises.

    He’s not proactive, he’s reactive. And that’s not enough to repair the damage republicans cause, let alone actually improve shit.