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.

  • GiuseppeAndTheYeti@midwest.socialEnglish
    7111·
    9 months ago

    I wish we could vote to quarantine people into labeled sections of Lemmy. Everytime Biden does something that represents positive change there’s an influx of begging choosers saying that “he didn’t do enough” or “but what about this!”. He’s cancelled 153 billion with a B dollars in 4 years without having a majority in congress. That’s an exceptional accomplishment. May I remind everyone how much debt on middle class Americans were forgiven of under Trump or Bush or Reagan?

    Biden is up against the most conservative and corrupt Supreme Court panel in history and a republican party that is so determined to torpedo anything that comes to the floor that they booted out their speaker of the house for coming to an agreement on the budget and replaced him with a speaker that they’re threatening to replace for nearly coming to a deal with democrats that would enable the US, for the first time in history, to close it’s borders. The only thing wrong with it was that it took away their boogeyman to campaign on.

    • chakan2@lemmy.worldEnglish
      436·
      9 months ago

      The lesser of two evils is still evil. It’s cool he’s forgiving student loans. But there’s no sugar coating the mediocre job he’s done and the impending doom his (the Democrats) apathy is about to impart on us.

      • crusa187@lemmy.ml
        321·
        9 months ago

        Neoliberal genocidal lust will be our undoing. Simple compassion for human lives would easily win Biden this election, but he’s willing to throw it all away for his “Israel First” policy.