Biden to forgive $7.4 billion more in student loan debt for 277,000 borrowers | CNN Politics
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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.

  • @TropicalDingdong
    8•9 months ago

    Biden should pause student debt payments and interest while he’s president. He can tell the press congress needs to pass a reform bill first before payments restart.

    I think that’s a great idea. Do it now and they really don’t have time to scramble the eggs before November. Overall though I completly agree with you on the messaging issue.

    For these borrowers, he should be insisting on sending a letter that “You personally had your debt forgiven by Joe Biden”, similar to how Trump insisted he get his signature on checks he didn’t write (and got it btw).

    Its optics, but optics matter. Biden needs to be able to own the things that make a material difference in peoples lives. Its why shit like the infrastructure bill just elicits an eye roll. Repairing a bridge five years from now is important, but its not gonna make a difference this November.