Biden forgives more student loans: 60,000 borrowers will get notices canceling $4.5 billion in debt
www.cnbc.com
The Biden administration announced on Thursday that it was forgiving another $4.5 billion in student debt for over 60,000 borrowers.
  • Fredselfish@lemmy.world
    0·
    29 days ago

    4.3.2.1…the Supreme Court will come out and reverse this decision, just like all the other times he has canceled debt.

    • ReallyActuallyFrankenstein@lemmynsfw.comEnglish
      0·
      29 days ago

      My understanding is that after the Supreme Court overturned a formalized forgiveness application process, Biden has been using a different method and forgiving specific debt in waves, and that method has neither been challenged nor overturned.

    • Stovetop@lemmy.world
      0·
      29 days ago

      Not likely in these cases, public service debt forgiveness programs have been in place for a long time now.

  • henfredemars@infosec.pubEnglish
    0·
    29 days ago

    “Public service workers – teachers, nurses, firefighters, and more – are the bedrocks of our communities and our country,” Biden said in a statement.

    It’s true. Its not just a debt forgiveness, but it’s an investment in our own collective futures.

  • Talisker@lemmy.world
    01·
    29 days ago

    Did they forgive new debt or are they just discharging debt that legally should already have been forgiven?

      • BertramDitore@lemm.eeEnglish
        0·
        29 days ago

        The specifics are important. There were tens of thousands of people who were eligible for and enrolled in the Public Service Loan Forgiveness program when it launched, did everything right, and still didn’t get their loans discharged, despite that being the purpose of the program.

        When the very first round of forgiveness came up, only 96 borrowers out of the 28,000 eligible in that round, actually had their discharge approved. This program was a huge failure at the beginning, and they recently made significant improvements to it, so I’m also curious if this is talking about new debt or existing debt that should have already been discharged.