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.

  • GiuseppeAndTheYeti@midwest.socialEnglish
    0·
    7 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
      01·
      7 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.

  • gastationsushi@lemmy.world
    0·
    7 months ago

    Democrats have a messaging problem, it’s confusing the way Biden is going about debt relief.

    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.

    It’s a simple idea, and let the courts try an micromanage a presidency.

    • TropicalDingdong@lemmy.world
      01·
      7 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.