President Joe Biden’s plans to deliver widespread student debt relief were dealt a serious blow last year when the Supreme Court struck down his one-time student loan forgiveness program. But he has still managed to cancel more federal student loan debt than any other president.
TLDR: Totalling roughly $144 billion for about 4 million borrows.
As the November election gets closer, Biden’s team is eager to tout what he’s done to address student loan debt – with the administration recently sending congratulatory emails to 153,000 debt-relief recipients – even if his actions fall short of some Democrats’ expectations.
The amount Biden has canceled is equal to 9% of the $1.6 trillion of federal student loan debt currently held by borrowers.
The Supreme Court ruled that the executive branch does not have the authority to implement Biden’s broad forgiveness program, which would have canceled up to $20,000 for borrowers who make less than $125,000 a year.
The one-time cancellation program would have benefited millions of people, but it drew some criticism because it would not have helped future borrowers or addressed the larger issue of the rising cost of college.
In a Reuters/Ipsos poll conducted in January, 46% of US adults said Biden has the “best approach” to lowering student debt burdens, compared with 22% who said Donald Trump does.
Still, the Biden administration is working on implementing another path toward a broad student loan forgiveness program, this time relying on a different legal authority in hopes that this attempt holds up in court.
The original article contains 689 words, the summary contains 196 words. Saved 72%. I’m a bot and I’m open source!
In a Reuters/Ipsos poll conducted in January, 46% of US adults said Biden has the “best approach” to lowering student debt burdens, compared with 22% who said Donald Trump does.
So…22% of respondents think this is a better student loan forgiveness plan:
During his presidency, Trump proposed a 2021 budget that would end subsidized loans, reduce the number of loan repayment plans and end the public service loan forgiveness program.
This is the best summary I could come up with:
As the November election gets closer, Biden’s team is eager to tout what he’s done to address student loan debt – with the administration recently sending congratulatory emails to 153,000 debt-relief recipients – even if his actions fall short of some Democrats’ expectations.
The amount Biden has canceled is equal to 9% of the $1.6 trillion of federal student loan debt currently held by borrowers.
The Supreme Court ruled that the executive branch does not have the authority to implement Biden’s broad forgiveness program, which would have canceled up to $20,000 for borrowers who make less than $125,000 a year.
The one-time cancellation program would have benefited millions of people, but it drew some criticism because it would not have helped future borrowers or addressed the larger issue of the rising cost of college.
In a Reuters/Ipsos poll conducted in January, 46% of US adults said Biden has the “best approach” to lowering student debt burdens, compared with 22% who said Donald Trump does.
Still, the Biden administration is working on implementing another path toward a broad student loan forgiveness program, this time relying on a different legal authority in hopes that this attempt holds up in court.
The original article contains 689 words, the summary contains 196 words. Saved 72%. I’m a bot and I’m open source!
So…22% of respondents think this is a better student loan forgiveness plan:
https://iowacapitaldispatch.com/2023/10/30/which-gop-presidential-candidates-have-plans-to-reduce-college-debt/
Ok…