Biden cancels additional $9bn in student loan debt – By Maya Yang (The Guardian) / Oct 4, 2023
President’s latest approval brings total debt cancellation under his administration to $127bn for nearly 3.6 million people
President Joe Biden has announced that an additional 125,000 people have been approved of student debt relief in a total of $9bn.
Biden’s latest approval brings the total approved debt cancellation under his administration to $127bn for nearly 3.6 million Americans, the White House said in a statement.
The new approvals include $5.2bn in additional debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs, nearly $2.8bn in new debt relief for nearly 51,000 borrowers through fixes to income-driven repayment, as well as $1.2bn for nearly 22,000 borrowers who have a total or permanent disability.
In an address on Wednesday, Biden said that his administration’s efforts to relieve student debt is “not done yet”, adding: “My administration is doing everything we can to deliver student debt relief as many as we can, as fast as we can.”
CONTINUE > https://www.theguardian.com/money/2023/oct/04/biden-cancels-additional-9bn-student-loan-debt
