Biden cancels student loans for 150,000 more borrowers
www.nbcnews.com
The latest tranche of debt forgiveness brings the number of people benefiting from student loan cancellations to more than 5 million, the president said.

Summary

President Biden announced student loan forgiveness for 150,000 additional borrowers, raising the total to over 5 million under his administration.

The latest beneficiaries include borrowers defrauded by schools, individuals with disabilities, and public service workers.

Biden emphasized his focus on expanding pre-existing forgiveness programs after his broad plan was struck down by the Supreme Court in 2023.

Conservatives and Trump argue the efforts overstep executive authority and unfairly shift costs.

Biden called the initiative a fulfillment of his promise to reduce financial barriers to education.

  • jordanlund@lemmy.worldM
    2·
    2 days ago

    I would add, he made a big deal about loan forgiveness for people who would go on to work in underpriveleged communities, which was always a thing.

    Really the only new program he implemented which wasn’t immediately overturned by the courts was forgiveness for people who a) borrowed $12,000 or less and b) hadn’t missed a loan payment for 10 years.

    Which they CLAIM is a whole bunch of people, but nobody stops to ask “Hey, if you borrowed $12,000 or less and haven’t missed a payment in 10 years, how much is actually outstanding on that loan?” Or better “What degree costs $12,000 or less?”