https://www.nytimes.com/2024/02/21/us/politics/biden-student-loan-forgiveness-debt.html With the latest round of relief, the Biden administration has canceled $138 billion of student debt for nearly 3.9 million borrowers.
President Biden standing on the stairs to Air Force One smiling.
Since the Supreme Court blocked President Biden’s plan to cancel $400 billion in student debt for about 43 million borrowers, the White House has used various smaller programs to forgive debt for specific groups.
Credit...Al Drago for The New York Times
Zolan Kanno-Youngs
By Zolan Kanno-Youngs
Reporting from Los Angeles
Feb. 21, 2024, 11:17 a.m. ET
President Biden announced the cancellation of an additional $1.2 billion in student loan debt for about 153,000 borrowers on Wednesday, his latest effort at student debt relief after the Supreme Court blocked a more sprawling plan last year.
Mr. Biden has now canceled $138 billion of student debt for almost 3.9 million borrowers through about two dozen executive actions, according to the White House. Wednesday’s action comes as some Democrats have pleaded for Mr. Biden to highlight his success in relieving debt to galvanize crucial constituencies, including young voters and Black borrowers who disproportionately shoulder student loan debt.
Anonymous
>>1269262 Since the Supreme Court blocked Mr. Biden’s ambitious plan to cancel $400 billion in student debt for about 43 million borrowers, the White House has tapped into various smaller programs to forgive debt for specific groups.
The most recent round of cancellation benefits those enrolled in the income-driven repayment plan known as SAVE, which opened for enrollment in August. It reduces monthly payments and shortens the life of loans for millions of borrowers. The administration is making efforts to ensure Mr. Biden receives credit for the cancellation, with the affected borrowers set to receive an email from Mr. Biden on Wednesday informing them that their debt will be erased this week.
“This shortened time to forgiveness will particularly help community college and other borrowers with smaller loans and put many on track to being free of student debt faster than ever before,” the administration said in a statement.
Borrowers who opted in to the SAVE plan who originally borrowed up to $12,000 and who made at least 10 years of qualifying monthly payments will have their debt wiped out entirely. As part of this effort, the administration accelerated its plans to shorten loan terms; the changes had been set to take effect in July.
The announcement on Wednesday morning comes at an opportune time for Mr. Biden as he works to energize voters during a fund-raising trip in California.
Anonymous
Anonymous
>>1269272 If trump promises to create a concentration camp and send all of california there you'd be happy with him keeping that promise too i assume
Anonymous
>>1269276 I won't be happy until Trump chokes on his KFC
Anonymous
>>1269278 Why would they give him KFC in prison? Last meal?
Anonymous
>>1269262 He didn't cancel any debt. He made adjustments to the SAVE program. You still have to pay your student loan debt.
Anonymous
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>>1269276 Based Trump. We keep on winning Trumpbros
Anonymous
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>>1269306 >autism works in mysterious ways Anonymous
>>1269263 >Borrowers who opted in to the SAVE plan who originally borrowed up to $12,000 and who made at least 10 years of qualifying monthly payments will have their debt wiped out entirely. >taking more than 10 years to pay off $12k Wow. I'm sure these are highly skilled workers who would be making a huge difference in the world if it wasn't for their massive student debt of $12,000. If you want to change the law then have congress change the law.
Anonymous
>>1269352 you want to change the law so only those with high end loans and kushy jobs -those who *can* afford to pay it back- don't have to? and those who can't, must?
jews rape kids
>>1269304 >>1269278 Trump is the world’s best squatter living rent free in your dimly lit heads.
Anonymous
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>>1269432 your parents named you jews?
Anonymous
>>1269430 You're fucking retarded. The reason the first loan forgiveness attempt got shot down was because the executive was not authorized to forgive the loans. These fall under some obscure rule for forgiveness so the White House can actually do it, but these loan amounts are so small as to not be significant. If you haven't paid off $12k in 10 years, while you've somehow been making payments on it, what the fuck are you doing?
Anonymous
>>1269484 >insignificant >1/3rd the original attempt >So far Anonymous
>>1269484 Are you unironically upset that the government isn't bailing you out of your retarded decisions?
Anonymous
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>>1269516 It's a shame he grew up fatherless and thinks the government can fill that hole in him.
Anonymous
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>>1269276 anyone would have been happy with him keeping his promise of locking Hillary up, or at least trying, but he couldnt even follow through 24 hours after his election
My nam is CEO Joan, I got a covid loan, hear me moan.
My nam is CEO Joan, I got a covid loan, hear me moan. Thu 22 Feb 2024 06:45:20 No. 1269522 Report >>1269262 How much will this election cost us hard working tax & loan paying Americans?
Anonymous
>>1269484 If $12k isn't significant to you, you shouldn't be commenting on government policy.
Anonymous
>>1269484 i was gonna shit you down but
>>1269512 >>1269516 and >>1269525 got to you first Anonymous
>>1269522 less than it's gonna cost your billionaire overlords
Anonymous
>>1269484 The reason the first student loan forgiveness attempt was shot down was because of the partisan supreme court. The HEROES act states that the secretary of education may modify student debt in a national emergency. But the rightwing supreme court just decided that words don't mean what they mean, and just said no because they're partisan hacks.
> IN GENERAL.—Notwithstanding any other provision of law, unless enacted with specific reference to this section, the
Secretary of Education (referred to in this Act as the ‘‘Sec-
retary’’) may waive or modify any statutory or regulatory provi-
sion applicable to the student financial assistance programs
under title IV of the Act as the Secretary deems necessary
in connection with a war or other military operation or national
emergency to provide the waivers or modifications authorized
by paragraph (2).
Anonymous
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>>1269557 >The reason the first student loan forgiveness attempt was shot down was because it was unconstitutional FTFY
Anonymous
Anonymous
>>1269557 >Notwithstanding Anonymous
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>>1269555 Billionaire overlords are doing wonderful and making lots of money under Biden
Anonymous
>>1269569 As with most things, you have to read past the first word.
Anonymous
>>1269576 >Notwithstanding any other provision of law
What do you think this is referring to?
Anonymous
>>1269578 You tell me, you clearly don't understand what it means
Anonymous
>>1269582 He's telling you that it very clearly says someone has certain powers as long as exercising said powers don't conflict with existing laws
Anonymous
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>>1269262 biden does not have the authority to cancel student loan debt. he's already lost several court cases to this effect. this is purely headline bait propaganda for the retarded masses so they can delude themselves into thinking the government gives a shit about the people and keep voting establishment.
Anonymous
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>>1269554 Stunning and brave. What college education did you get for $12k? Why haven't you paid off the loan despite making payments on it for 10 years? These are the terms of the loan forgiveness. Congress passing a law to forgive all outstanding student loans would actually make a difference. This specific thing that you are fellating the White House for is fucking nothing.
>>1269555 Anonymous
>>1269352 >and who made at least 10 years of qualifying monthly payments I bet the four people who qualify for this are going to be very happy.
Anonymous
>>1269603 >for about 153,000 borrowers it's literallu in the very first sentence anon
Anonymous
>>1269608 Dumbfucks that didn't go to college don't know how to read.
Anonymous
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>>1269608 >With the latest round of relief, the Biden administration has canceled $138 billion of student debt for nearly 3.9 million borrowers Anonymous
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>>1269584 And what other law did it conflict with then? (Btw that's not why the scotus struck it down, so you're not going to find a conflicting law)
Anonymous
Anonymous
This is debt that people shouldn’t have to pay in the first place. This is a scam.
Anonymous
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>>1270233 say it loud for the people in the back
Anonymous
>>1269262 probably all jews
Anonymous
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>>1269272 >Another promise kept oh please.
Anonymous
