The White House has approved nearly $144 billion in federal loan forgiveness for about 4 million borrowers in total, according to the administration.

The White House has approved nearly $144 billion in federal loan forgiveness for about 4 million borrowers in total, according to the administration.

President Joe Biden announced Thursday that the White Househas approved the cancellation of nearly $6 billion in federal student debt for thousands of public service workers.

The 78,000 eligible public service workers include teachers, nurses and firefighters, according to the White House.

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It’s the latest student debt cancellation move through Public Service Loan Forgiveness programs, which allow eligible borrowers to have their remaining debt forgiven if they have made a certain number of payments and are working for approved employers.

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Last year, the Supreme Court invalidated Biden’s more far-reaching student loan debt relief plan, arguing that it was unlawful because Congress did not explicitly approve the move.

  • ringwraithfish@startrek.website
    232·
    9 months ago

    One thing to remember is the supreme Court blocked him from cancelling all student debt.

    https://www.cnn.com/2023/06/30/politics/supreme-court-student-loan-forgiveness-biden/index.html

    So the timeline (from my memory as I recall it):

    • forgiveness program introduced several administrations ago for public service workers
    • Trump administration found to essentially not forgiving any loans over technicalities
    • Biden comes into office with promise to correct
    • Biden tries to correct in 2022
    • GOP sues
    • Supreme court blocks Biden’s efforts in 2023, stating their method was overstepping their powers
    • Biden administration uses existing executive powers to move forward with efforts
    • Spiralvortexisalie@lemmy.worldEnglish
      220·
      9 months ago

      Could you provide sources for points 2 and 3? The Trump admin actually tried to simplify all the programs into just two, standard and IBR (income based repayment like the SAVE plan) and allowed for processing of cancellations. That administration also managed to use their executive power to eliminate student loan debt for disabled veterans source. Since then Biden has managed to ignore legal advice and precedent to throw up his hands and say he can’t do anything for student loans. The same individual says he will stop Israel by never stopping them, it’s tiring to hear people still have any faith in his words when is whole history is talking out both sides of his mouth. He was cancelled from running for president in 1988 for being a liar NYT Video and yet if I say he is lying, everyone jumps down my throat.