The Biden administration announced Monday that it will forgive 150,000 more student loan debts, bringing the total number of borrowers for which the administration has extended relief to a major milestone.
Despite being reprimanded by the Supreme Court in June 2023, President Joe Biden and his team continued to push forward with their student loan forgiveness plan through the end of his presidential term. Includes 150,000 borrowers monday actionThe Biden administration has now forgiven a total of $183.6 billion in student loan debt accumulated by more than 5 million borrowers.
The Department of Education said most of the 150,000 debtors receiving relief under the measures announced Monday are disabled or attended universities that defrauded students. It also includes more than 6,000 public sector employees. (Related: Biden announces plan to wipe out student loan debt for millions more Americans)
“The Supreme Court blocked it, but that didn’t stop me,” Biden said of student loan cancellation. pic.twitter.com/yX3M7xUnc6
— Daily Caller (@DailyCaller) February 22, 2024
“Four years ago, President Biden promised to fix our broken student loan system. Life-changing student debt relief is now available to more than 5 million borrowers, more than any other administration in history. ,” Education Secretary Miguel Cardona said in a statement Monday. “Thanks to our tireless and unapologetic efforts to create a system that is affordable and accountable to both students and taxpayers, today’s announcement makes it clear that institutions have been misled and deceived. It includes additional relief for borrowers and disabled borrowers, as well as additional forgiveness of public loans.” Servant. ”
In 2023, the Supreme Court struck down as unconstitutional Mr. Biden’s plan to provide up to $20,000 in student loan relief to millions of borrowers. Biden’s 2023 SAVE Plan, an income-driven student loan forgiveness program that would cost $156 billion over 10 years if implemented, is also currently in place. tied up In court.
Despite losing in the polls in the 2024 election, the Biden administration is busy finalizing key policy decisions during its lame duck period. In the weeks since Election Day, Biden has blocked future offshore oil and gas drilling across 625 million acres of federally controlled waters, pardoned his son, commuted the death sentence of a murderer, and made significant new changes to the Russian economy. introduced sanctions.
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