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How Biden is continuing to cancel student loan debt despite Supreme Court ruling (www.cnn.com)

submitted 1 year ago by [email protected] to c/[email protected]

64 comments fedilink hide all child comments

Although the Supreme Court struck down President Joe Biden’s signature student loan forgiveness program in late June, his administration has found ways to cancel more than $48 billion in debt since then.

The cancellations have come through existing federal student loan forgiveness programs, which are limited to specific categories of borrowers, such as public-sector workers, people defrauded by for-profit colleges, and borrowers who have paid for at least 20 years.

These programs are separate from the rejected forgiveness plan, which would have canceled about $430 billion of the $1.6 trillion of outstanding federal student loan debt all at one time.

The Biden administration has been granting student loan forgiveness through these existing programs on a rolling basis since coming into office and has discharged a total of $127 billion for nearly 3.6 million people to date.

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[–] [email protected] 46 points 1 year ago (1 children)

It's 127 billion dollars more than any other president/administration has ever done.

3.6 million Americans and their families have had a significant burden removed, and that doesn't even count the new repayment rules that limit the impact student loans borrowers.

He's still moved the needle on a major pain point for millions of Americans. It warrants credit where it's due. If you only criticism is that it wasn't more, then write your representatives and vote accordingly.