President Joe Biden’s plans to deliver widespread student debt relief were dealt a serious blow last year when the Supreme Court struck down his one-time student loan forgiveness program. But he has still managed to cancel more federal student loan debt than any other president.
Biden Has Canceled Student Debt for Nearly 4 Million
As the November election gets closer, Biden’s team is eager to tout what he’s done to address student loan debt – with the administration recently sending congratulatory emails to 153,000 debt-relief recipients – even if his actions fall short of some Democrats’ expectations.
The Supreme Court ruled that the executive branch does not have the authority to implement Biden’s broad forgiveness program, which would have canceled up to $20,000 for borrowers who make less than $125,000 a year.
The one-time cancellation program would have benefited millions of people, but it drew some criticism because it would not have helped future borrowers or addressed the larger issue of the rising cost of college.
In a Reuters/Ipsos poll conducted in January, 46% of US adults said Biden has the “best approach” to lowering student debt burdens, compared with 22% who said Donald Trump does.
They wanted the president to cancel $50,000 of student loan debt per borrower – an amount Biden argued was too high.
Still, the Biden administration is working on implementing another path toward a broad student loan forgiveness program, this time relying on a different legal authority in hopes that this attempt holds up in court.
The original article contains 681 words, the summary contains 195 words. Saved 71%. I’m a bot and I’m open source!
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As the November election gets closer, Biden’s team is eager to tout what he’s done to address student loan debt – with the administration recently sending congratulatory emails to 153,000 debt-relief recipients – even if his actions fall short of some Democrats’ expectations.
The Supreme Court ruled that the executive branch does not have the authority to implement Biden’s broad forgiveness program, which would have canceled up to $20,000 for borrowers who make less than $125,000 a year.
The one-time cancellation program would have benefited millions of people, but it drew some criticism because it would not have helped future borrowers or addressed the larger issue of the rising cost of college.
In a Reuters/Ipsos poll conducted in January, 46% of US adults said Biden has the “best approach” to lowering student debt burdens, compared with 22% who said Donald Trump does.
They wanted the president to cancel $50,000 of student loan debt per borrower – an amount Biden argued was too high.
Still, the Biden administration is working on implementing another path toward a broad student loan forgiveness program, this time relying on a different legal authority in hopes that this attempt holds up in court.
The original article contains 681 words, the summary contains 195 words. Saved 71%. I’m a bot and I’m open source!