Although the Supreme Court struck down President Joe Biden’s signature student loan forgiveness program in late June, his administration has found ways to cancel more than $48 billion in debt since then.

The cancellations have come through existing federal student loan forgiveness programs, which are limited to specific categories of borrowers, such as public-sector workers, people defrauded by for-profit colleges, and borrowers who have paid for at least 20 years.

These programs are separate from the rejected forgiveness plan, which would have canceled about $430 billion of the $1.6 trillion of outstanding federal student loan debt all at one time.

The Biden administration has been granting student loan forgiveness through these existing programs on a rolling basis since coming into office and has discharged a total of $127 billion for nearly 3.6 million people to date.

  • @Patches
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    208 months ago

    Yes but the PSLF had an abysmal approval percentage up until Biden. The department of education did everything to deny, deny deny.

    • Capt. Wolf
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      fedilink
      88 months ago

      And the loan agencies certainly don’t want you to know about it either! Mine played dumb until I cited the section about my job, then suddenly it was “Oh that, right! We’ll get you set right up!”

      My last payment is next year and I just can’t wait to see what they’ve fucked up because of covid…

      • @Patches
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        48 months ago

        Bruh just pray that Biden wins cause if he doesn’t the PLSF goes back to deny everything