Although the Supreme Court struck down President Joe Biden’s signature student loan forgiveness program in late June, his administration has found ways to cancel more than $48 billion in debt since then.
The cancellations have come through existing federal student loan forgiveness programs, which are limited to specific categories of borrowers, such as public-sector workers, people defrauded by for-profit colleges, and borrowers who have paid for at least 20 years.
These programs are separate from the rejected forgiveness plan, which would have canceled about $430 billion of the $1.6 trillion of outstanding federal student loan debt all at one time.
The Biden administration has been granting student loan forgiveness through these existing programs on a rolling basis since coming into office and has discharged a total of $127 billion for nearly 3.6 million people to date.
It’s 127 billion dollars more than any other president/administration has ever done.
3.6 million Americans and their families have had a significant burden removed, and that doesn’t even count the new repayment rules that limit the impact student loans borrowers.
He’s still moved the needle on a major pain point for millions of Americans. It warrants credit where it’s due. If you only criticism is that it wasn’t more, then write your representatives and vote accordingly.
I have. Sadly I’m in a deeply red area and my reps have made it clear that I can go fuck off.
Well then you should sympathize with having a conservative roadblock to democratic action.
