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.

  • Verdant Banana@lemmy.world
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    5 months ago

    That’s more than 9% of all outstanding federal student loan debt.

    quarter assing it as usual but asking for more fundraising and votes like he did something

    just like with everything else he does

    • HWK_290@lemmy.world
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      5 months ago

      Jfc, what do you people want him to do? Intransigent congress and corrupt supreme court basically means any comprehensive forgiveness is DOA. This is going to help people, bottom line.

      Wait, I forgot, yours is a bad faith argument. Das vadanya