Biden expands student loan relief for over 150,000 borrowers
President Joe Biden announced the forgiveness of student loans for over 150,000 individuals, bringing the total number of beneficiaries to over 5 million. This decision is part of the administration's efforts to support those most in need.
Biden announced the forgiveness of student loans for 150,000 individuals, increasing the total number of beneficiaries to over 5 million. According to NBC News, this decision includes, among others, 80,000 people defrauded by schools, 60,000 with permanent disabilities, and 6,000 public sector employees.
Further debt forgiveness by Joe Biden
Biden's administration has focused on expanding existing loan forgiveness programs, despite being unable to implement new solutions following the Supreme Court's rejection of the plan in 2023.
The outgoing president highlighted amendments in the forgiveness program for public employees and updates in income-driven repayment programs.
In the past four years, debts of 5 million individuals have been forgiven, including 1.4 million who had been repaying loans for decades and 1 million public sector employees. Biden's decision has been criticized by conservatives, who argue it burdens those without higher education.
