Biden cancels student loans for 150k more, totals 5 million
President Joe Biden announced the forgiveness of student loans for over 150,000 individuals, bringing the total number of beneficiaries to over 5 million. This decision is part of the administration's efforts to support those most in need.
Biden's announcement includes forgiving loans for 150,000 individuals, raising the total number of beneficiaries to more than 5 million. According to NBC News, this decision affects groups such as 80,000 people defrauded by schools, 60,000 with permanent disabilities, and 6,000 public sector employees.
Further debt forgiveness by Joe Biden
The Biden administration has concentrated on expanding existing loan forgiveness programs, although it couldn't introduce new solutions after the Supreme Court rejected a plan in 2023.
The President emphasized changes in the forgiveness program for public employees and modifications to income-driven repayment options.
Over the past four years, the debts of 5 million people have been forgiven, including 1.4 million who had been repaying loans for decades and 1 million public sector employees. Biden's decision has faced criticism from conservatives, who argue it burdens those without higher education.
