See multiple perspectives from MarketWatch, Washington Examiner, and USA TODAY at AllSides.com.
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.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.
The cohort receiving the relief includes three groups of borrowers who have been eligible to have their debt forgiven for years but struggled to access that benefit. They are public servants who have been working for the government or certain nonprofits for more than 10 years and paying on their student loans during that time; borrowers who have been in repayment on their loans for more than 20 years; and borrowers who are severely...
White House officials called the move a"key step" in his efforts"to fix the broken student loan system, make college more affordable, and bring the promise of higher education in reach for more Americans." Another 125,000 student loan borrowers will have $9 billion in student loan debt erased, the Biden administration said Wednesday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Report: Biden Admin 'More Worried' About Ukraine Corruption Than They AdmitThe Biden administration revealed in a confidential strategy document that they are 'far more worried' about corruption in Ukraine than they publicly admit, according to a report by Politico.
Read more »
Exclusive: Biden Admin Moves 2K Migrants from Packed Border Facility to Release Elsewhere in TexasSOURCE: The Biden administration is moving 2,000 migrants from an overcrowded Border Patrol processing facility in Texas.
Read more »
GOP, Dems urge Biden admin to defend US businesses from Europe's eco regulations: 'Higher prices'FIRST ON FOX: The Biden administration is facing pressure from House Republicans and Democrats alike to defend U.S. businesses from burdensome European climate regulations.
Read more »
Biden admin sanctions multimillion-dollar China-based network involved in trafficking of fentanyl, drugsThe Biden administration imposed sanctions on a multimillion-dollar China-based network involved in the trafficking of fentanyl and other illicit drugs.
Read more »
Biden admin indicts Chinese companies and executives tied to fentanyl distributionThe Biden administration took aim Tuesday at the fentanyl trafficking threat, announcing a series of indictments and sanctions against Chinese companies and executives blamed for importing the chemicals used to make the deadly drug.
Read more »
Biden Admin 'Scrambling' to Assure Allies that Ukraine Aid Will ContinueThe Biden administration is 'scrambling' to assure allies that American aid to Ukraine will continue despite growing GOP opposition to it.
Read more »