The Biden administration notified borrowers of student loan forgiveness

0
6
menu icon

  • About 813,000 student loan borrowers will receive an email from President Joe Biden informing them that their debt has been forgiven because of his actions, the White House said.
  • Although Biden’s plans to cancel up to $400 billion in student loans for tens of millions of Americans failed in the Supreme Court, he has managed to erase $127 billion in student loans so far for over 3.5 million borrowers – more than any other president in history.

US President Joe Biden speaks about the administration’s plan to forgive federal student loan debt during remarks in the Roosevelt Room of the White House in Washington, US, August 24, 2022.

Leah Millis | Reuters

About 813,000 student loan borrowers will soon receive an email from President Joe Biden informing them that their debt has been forgiven because of his actions, the White House said Tuesday.

Read Also:  Enrique Alfaro completes his cycle within the politics of Grupo Milenio in networks

Many borrowers who receive the email probably already know about the loan cancellation and may have already received this relief. The message directly from the president, less than a year before the 2024 presidential election, explains who is responsible for the relief.

“Congratulations – your student loan is forgiven because of the actions my administration has taken to ensure you receive the relief you have earned and deserve,” the email read.

Biden has eliminated $127 billion in student loans to date for more than 3.5 million borrowers — more than any other president in history.

More from Your Money:

Here’s a look at several stories on how to manage, grow and protect your money for years to come.

The Biden administration used existing programs, including Public Service Loan Forgiveness and income-driven repayment plans, to provide debt cancellation. In the past, grants under these programs were difficult to access.

Read Also:  The 20 best-selling cars in the United States during 2023

“The president is committed to fighting for hard-working American families, making sure we get them a little more breathing room, and allowing them to support themselves and their families,” a White House official said. on Tuesday.

Biden’s plan to cancel up to $400 billion in student loans for tens of millions of Americans was rejected by the Supreme Court in June.

Republican nominees for president oppose student loan forgiveness.

Former New Jersey Governor Chris Christie said Biden did not have the authority to cancel student loans without approval from Congress.

“He knows he did something illegal and above all else,” Christie said on ABC’s “This Week” in 2022, shortly after Biden announced his broad pardon plan.

Read Also:  After centuries of mystery they found out why urine is yellow

Former President Donald Trump sided with the Supreme Court.

“Today, the Supreme Court has also ruled that President Biden cannot eliminate hundreds of billions, perhaps trillions, of dollars in student debt, which is unfair to the millions and millions of people who are paying off their debt through hard work and hard work. ; unfair,” Trump said at a campaign event in June.

Florida Governor Ron DeSantis says it’s wrong to saddle taxpayers with the cost of student loan forgiveness.

“Why should a truck driver pay for someone who got a degree in zombie studies?” DeSantis said at an event in Iowa in early August. “It doesn’t make sense.”

Voters support forgiving even some student debt by a 2-to-1 margin, according to a Politico/Morning Consult poll. Less than a third opposed the policy.