Headline Roundup • December 20th, 2024
Biden Cancels $4 Billion in Student Loan Debt
Summary from the AllSides News Team
The Department of Education announced it would cancel $4.28 billion in loans for 54,900 borrowers through the Public Service Loan Forgiveness (PSLF) Program.
PSLF: The program previously had a 99% rejection rate due to confusion about eligibility requirements.
For Context: In total, the Biden administration has forgiven $180 billion in student loan debt for 4.9 million borrowers. The Supreme Court has struck down President Biden's past attempts at broad student loan forgiveness, however, he has provided student loan cancellations through other programs.
How the Media Covered It: The Daily Wire (Right bias) called it Biden's "latest last minute leftist policy move" and detailed Republicans' opposition to past loan cancellation initiatives. CBS News (Lean Left bias) also mentioned Republican opposition in Congress, saying they have "slammed" Biden's loan cancellation work, and Biden has fallen short of his goals.
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The Biden administration said Friday that it would cancel another $4.28 billion in student loan debt for nearly 55,000 people, bringing the total amount of student debt forgiven by the administration to around $180 billion.
The Department of Education announced that it was canceling the debt of 54,900 borrowers through the Public Service Loan Forgiveness (PSLF) Program. Although the Supreme Court struck down President Joe Biden’s broad student loan cancellation program last year, Biden has continued to cancel chunks of student loan debt through other programs.
“Four years ago, the Biden-Harris Administration made a pledge to America’s teachers,...
The Biden administration is canceling federal student loans for another 55,000 workers through an existing program known as Public Service Loan Forgiveness.
The Education Department's announcement Friday targets teachers, nurses, service members, law enforcement officials and others who've reached eligibility through the program, which promises to erase loans after 10 years of work in government or nonprofit jobs.
The $4.28 billion in relief is expected to be the final round of public service loan forgiveness before President Biden leaves office in January. After failing to deliver his promise of widespread...
The Biden administration announced on Friday that it would forgive another $4.28 billion in student loan debt for 54,900 borrowers who work in public service.
The relief is a result of fixes the U.S. Department of Education made to the once-troubled Public Service Loan Forgiveness Program.
The debt relief comes in President Joe Biden’s final weeks in office.
Biden has forgiven more student debt than any other president. He has cleared nearly $180 billion for 4.9 million people with student debt.
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