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Biden to forgive $7.4 billion more in student loan debt for 277,000 borrowers (www.cnn.com)

submitted 7 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

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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.

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[+] givesomefucks@lemmy.world -12 points 7 months ago

Among a long list of other things, he took action on day one of his presidency to pause student loan payments.

I mean, being more conservative than trump on day 1 would have been a pretty dumb move...

He did continue Trump's pause, so there is that

Some people just have higher standards than that tho...

And you phrased that poorly, it sounds like you think Biden started it rather than not ending it.

[-] thesystemisdown@lemmy.world 11 points 7 months ago

Fair enough on the poorly phrased part, but Biden followed up with a $400 billion debt relief program in 2022. The Trump appointed Supreme Court blocked it. 2022 was not a presidential election year.

[+] givesomefucks@lemmy.world -12 points 7 months ago

Yes...

He waited till right before midterms, said he would accomplish something, but didn't.

Now it's two years later, right before an election, and Biden is saying hell accomplish something again...

He waited till it was close to an election again, and the SC is the same.

So why are we giving him credit already for something unlikely to actually happen? And why did he wait till right before an election to try anything else?

This is my whole point...

[-] thesystemisdown@lemmy.world 11 points 7 months ago

By that logic, initiatives are always affected by an election year. An election of some variety is always around the corner.

The SCOTUS ruling didn't happen until June, 2023. The president does not set the Supreme Court's agenda.

[-] TexasDrunk@lemmy.world 7 points 7 months ago

He did things in the same year that my cheese club held elections for a new president. It's all political!

this post was submitted on 12 Apr 2024

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