Biden Has Canceled Student Debt for Nearly 4 Million

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    8 months ago

    This is the best summary I could come up with:


    As the November election gets closer, Biden’s team is eager to tout what he’s done to address student loan debt – with the administration recently sending congratulatory emails to 153,000 debt-relief recipients – even if his actions fall short of some Democrats’ expectations.

    The Supreme Court ruled that the executive branch does not have the authority to implement Biden’s broad forgiveness program, which would have canceled up to $20,000 for borrowers who make less than $125,000 a year.

    The one-time cancellation program would have benefited millions of people, but it drew some criticism because it would not have helped future borrowers or addressed the larger issue of the rising cost of college.

    In a Reuters/Ipsos poll conducted in January, 46% of US adults said Biden has the “best approach” to lowering student debt burdens, compared with 22% who said Donald Trump does.

    They wanted the president to cancel $50,000 of student loan debt per borrower – an amount Biden argued was too high.

    Still, the Biden administration is working on implementing another path toward a broad student loan forgiveness program, this time relying on a different legal authority in hopes that this attempt holds up in court.


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