Joe Biden has wiped out another $45 billion in student debt‚ helping over 60000 borrowers. This move brings the number of public service workers whove had their student loans cancelled to more than 1 million
The Biden-Harris Administration has given the green light to $175 billion in student debt relief for nearly 5 million borrowers through various actions‚ (this is what the White House said in a statement). This decision has been met with mixed reactions
Republicans have called out the Democratic presidents student loan forgiveness approach as an overreach of authority. They argue its an unfair benefit to college-educated borrowers‚ while others receive no such relief
About a year ago‚ St Louis-based US District Judge Matthew Schelp – who Trump appointed – issued a preliminary injunction. This blocked the Biden administration from “mass canceling“ student loans and forgiving principal or interest under the plan; its pending the outcome of the states lawsuit
The Biden administrations actions have sparked a debate about the fairness and legality of student debt relief. While many celebrate the financial burden being lifted others question the long-term implications of such policies