The latest tranche of debt forgiveness brings the total number of people benefiting from student loan cancelations 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.

    • grue@lemmy.worldEnglish
      1910·
      2 days ago

      From the article:

      The 150,000 new beneficiaries announced Monday include more than 80,000 borrowers who were cheated or defrauded by their schools, over 60,000 borrowers with total and permanent disabilities and more than 6,000 public service workers, Biden said in the release.

      These are all loans that were ALWAYS SUPPOSED TO HAVE BEEN FORGIVEN under existing law.

      • Anamnesis@lemmy.world
        104·
        1 day ago

        So hilarious that people are just down voting you without providing any evidence of new student loan action on Biden’s part. Libs will do anything to justify the status quo.