Headline RoundupOctober 4th, 2023

Biden Admin Cancels Another $9B in Student Debt, Affecting 125,000 Borrowers

Summary from the AllSides News Team

Around 125,000 borrowers will have $9 billion in student debt canceled, the Biden administration announced Wednesday.

The Details: The borrowers were already eligible for cancellation through programs such as Public Service Loan Forgiveness for teachers and health care workers; discharges for people with disabilities; and income-driven repayment plans that forgive balances after at least 20 years of payments.

For Context: Federal student loan payments resume this month for 28 million borrowers. Earlier this year, the Supreme Court struck down Biden's broader plan to forgive up to $20,000 in debt for any borrower earning less than $125,000 annually. Biden has now canceled roughly $127 billion in student loan debt for 3.6 million borrowers.

How the Media Covered it: Sources across the spectrum covered the news, with some left-rated sources framing the cancellation efforts more positively than right-rated sources. USA TODAY (Lean Left bias) said "Although the president was thwarted in his attempt at far-reaching relief, his administration has managed to chisel away at student loan debt on a smaller scale." Washington Examiner (Lean Right) highlighted Republicans who "balked at widespread debt forgiveness plans as an unfair transfer of costs to taxpayers who paid off their debts or never attended college."

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