Biden announces new wave of student loan cancellations
President Joe Biden has announced the cancellation of student loans for over 150,000 individuals, bringing the total number of beneficiaries to more than 5 million. This initiative is part of the administration's efforts to assist those most in need.
The newly announced cancellations include, among others, 80,000 individuals who were defrauded by schools, 60,000 people with permanent disabilities, and 6,000 public sector workers, as reported by NBC News.
More debt cancellations by Joe Biden
Biden's administration has concentrated on expanding existing loan forgiveness programmes despite being unable to introduce new measures following the Supreme Court's rejection of their plan in 2023.
The departing president has emphasised revisions to the forgiveness programme for public sector workers and modifications to income-driven repayment programmes.
Over the past four years, the debts of 5 million people have been cleared, including 1.4 million who had been repaying loans for decades and 1 million public sector workers. Biden's decision has attracted criticism from conservatives, who argue that it places an undue burden on those without higher education.
