U.S. President Joe Biden plans to announce on Wednesday that his administration has approved an additional $9 billion in student debt relief for 125,000 borrowers, the White House said.
Biden has said he will pursue new measures to provide student loan relief to Americans after the Supreme Court blocked his plan to cancel hundreds of billions of dollars in debt.
The president’s announcement, planned for 1 p.m. EDT at the White House, will bring the total approved debt cancellation by the Biden administration to $127 billion for nearly 3.6 million Americans, the White House said.
No, the Trump administration repeatedly blocked loan forgiveness that was already in law. Betsy Devos had to be brought to court multiple times and sometimes ignored court orders to pay for years. I wouldn’t trust a republican administration to even live up to the bare minimum of what’s required by law.
In addition to not fighting loan forgiveness laws already existing, the Biden administration has also broadened existing forgiveness rules to apply to more people people. They’re also crafting a new rule to again try to do what the supreme court blocked in broader forgiveness under a different law that also grants the executive branch power to modify loans to try and get around the ruling.