Biden Administration to ‘Forgive’ Another $4.9 Billion in Student Loan Debt

2024-01-24 09:00:43

I seem to remember the Supreme Court saying that Biden didn’t have the power to do this. He is ignoring them and just doing what he wants to do.

Campus Reform reports:

Biden administration announces another $4.9 billion in student loan forgiveness

President Biden’s administration has announced that $4.9 billion in student debt was recently forgiven.

The Department of Education made the announcement on Friday, stating that the student loans are being forgiven as a result of Income-driven repayment forgiveness and Public Service Loan Forgiveness.

$1.7 billion in student loan forgiveness was handed out through “administrative adjustments” to the Income-driven repayment program for 29,700 borrowers.

$3.2 billion was forgiven for 43,900 borrowers through the Public Service Loan Forgiveness.

“The Biden-Harris Administration has worked relentlessly to fix our country’s broken student loan system and address the needless hurdles and administrative inaccuracies that, in the past, kept borrowers from getting the student debt forgiveness they deserved,” said U.S. Secretary of Education Miguel Cardona. “The nearly $5 billion in additional debt relief announced today will go to teachers, social workers, and other public servants whose service to our communities have earned them Public Service Loan Forgiveness, as well as borrowers qualifying for income-driven repayment forgiveness because their payments are for the first time being accurately accounted for.




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