Biden will forgive $9B more in student loan debt with rule tweak
October 5, 2023
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0:56Now PlayingBiden will forgive $9B more in student loan debt with rule tweak
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as posted by the channelPresident Biden said Wednesday that his administration is forgiving $9 billion in student loan debt through existing programs as part of a broader push to chip away at the effects of the Supreme Court’s June ruling axing his plan to wipe away $430 billion in college debt.
“I’m announcing my administration has approved an additional $9 billion in relief for 125,000 borrowers in just the past few weeks,” Biden said at his only public event of the day at the White House.
“With the latest debt cancellation, in total, my administration has canceled $127 billion in student debts for nearly 3.6 million Americans.”
The latest $9 billion in debt relief was the result of three changes to ensure that people already eligible for loan forgiveness under existing programs actually got the money wiped from their balance sheets, the White House said.
Biden has routinely touted such steps as he courts younger voters going into next year’s election after receiving criticism for not doing more to fulfill his campaign pledges of relief — and his latest moves didn’t satisfy those critics.
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