The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt, for 80,300 borrowers.
The relief is a result of the U.S. Department of Education’s fixes to its income-driven repayment plans and Public Service Loan Forgiveness program.
“Before President Biden took office, it was virtually impossible for eligible borrowers to access the student debt relief they rightfully earned,” U.S. Secretary of Education Miguel Cardona said in a statement. “This level of debt relief is unparalleled and we have no intention of slowing down.”
It’s not referring to the blanket partial forgiveness that got blocked by the SC for made up reasons. This is about the longstanding forgiveness programs that had huge backlogs of applicants that the admin is now working through. It’s additional people being approved (and the sum of their debt), not additional relief for everyone.
Read: it’s an easy “win” to help with the election where they can trick people into thinking they did part of the original plan as opposed to finally working on something they already promised in the past. Fucking politics man…
I don’t even have a dog in this fight, I never went to college because I couldn’t figure out what I wanted and didn’t want to have a boatload of loans that went to nothing. IM ONLY SLIGHTLY BITTER ABOUT THAT! Lol Still happy people are getting some relief though.