President Biden: student loan borrowers enrolled in SAVE “who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining student debt cancelled immediately"
President Biden: student loan borrowers enrolled in SAVE “who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining student debt cancelled immediately"
From Day One of my Administration, I vowed to fix the student loan system and make sure higher education is a pathway to the middle class – not a barrier to opportunity. Already, my Administration has cancelled student debt for 3.6 million Americans through various actions – delivering lifechanging ...
"Borrowers who may be eligible for early debt cancellation to sign up for the SAVE plan at studentaid.gov," a statement by the White House says.
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I wonder why that limit, and if they'll raise it...
They're doing it in small chunks to make it harder for the Republican's to block it. I think the total is above $120 billion forgiven at this point out of the $400 billion target. Couple hundred million here, few billion there. They've been doing a lot better than most people understand at getting it done as best they can.
Probably because Republicans in Congress have been stonewalling the president's student debt forgiveness. He's been forced to lower the amount and the scope of the debt forgiveness several times.
Indeed, I'm curious how they came to that specific number, though, and what they might plan for the future...
I think it's just a bunch of people reading through all of the laws and looking for any way it can be forgiven without congress, and without the SCOTUS.