Biden administration forgives $39 billion in student debt
Posted By Peter Coyne | 2023-07-17 03:40:18
The Biden administration announced it would automatically cancel education debt for 804,000 borrowers, for a total of $39 billion in relief.
- The debt cancellation is a result of the administration’s fixes to repayment plans, which included updated counts of borrowers’ payments.
- The announcement comes weeks after the Supreme Court struck down President Joe Biden’s sweeping student loan forgiveness plan, which would have delivered relief to about 37 million people.