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The Biden administration announced on Friday, July 14 it would cancel $39 billion of debt for 804,000 student loan borrowers. This follows the June 30 Supreme Court 6-3 decision, which struck down...
Today, the Department of Education announced that 800,000 borrowers will have $39 billion in federal student loans discharged as a result of a one-time payment adjustment.
WASHINGTON (Reuters) -U.S. President Joe Biden's administration will cancel $39 billion in student debt for more than 804,000 borrowers, the Education Department said on Friday, describing the ...
The Higher Education Act has been proposed as a potential way to cancel student loan debt. According to a paper by the Legal Services Center at Harvard Law School and commissioned by Senator Elizabeth Warren in September 2020, the Secretary of Education may be able to cancel student loan debt. [54] Following Biden v.
Many borrower advocates are unhappy with the president's response to last month's SCOTUS ruling against student debt ... Some 800,000 borrowers will have $39 billion in federal student loans ...
Biden has since implemented a more modest income-driven $39 billion debt relief plan impacting 800,000 borrowers who had paid their loans over 20 years, [81] and waived some rules regarding the Public Service Loan Forgiveness program that resulted in an additional 662,000 people having some debt canceled.
In March 2024, the Biden administration announced that it would forgive $5.8 billion in student loan debt to 78,000 borrowers under the PSLF program, [133] and then an additional $7.4 billion in student loan debt for 277,000 borrowers from additional changes to the PSLF program the next month, which brought the total dollar amount of student ...
President Joe Biden announced last week the cancellation of $1.2 billion in student debt for 153,000 borrowers—an average of $7,843 per borrower. The move is one of dozens he’s made since 2021 ...