US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024.
Andrew Caballero Reynolds | AFP | Getty Images
Biden said in a statement that this relief includes 85,000 people who attended schools that “deceived and defrauded their students,” 61,000 borrowers who suffer from complete and permanent disability, and 6,100 other public service employees.
“From day one of my administration, I promised to ensure that higher education would be a ticket to the middle class, not a barrier to opportunity, and I’m proud to say we’ve forgiven more student loan debt than any other administration in history.” Biden said.
Since Biden took office, he has forgiven debt for more than 5 million federal student loan borrowers, totaling $183.6 billion in relief.
In 2023, the Supreme Court blocked the president’s plan to broadly forgive tens of millions of student loan borrowers.
But the Biden administration can still erase a significant share of the nation’s outstanding student debt by improving the U.S. Department of Education’s existing debt relief programs.
Monday’s announcement aims to cancel $465 million in loans for public employees, $2.5 billion for borrowers with total and permanent disabilities, and more than $1.25 billion for defrauded students.
OrderStream delivers the latest technology news, trends, and insights. Stay informed with expert analysis and in-depth articles covering everything from cutting-edge innovations to industry shifts. Join our tech-savvy community and keep pace with the ever-evolving tech landscape.
We’re accepting suggestions right here now.