US EditionBiden cancels another $9 billion in student loan debt days after payments restart
- U.S. President Joe Biden is set to announce an additional $9 billion in student debt relief for 125,000 borrowers, bringing the total approved debt cancellation by the Biden administration to $127 billion for nearly 3.6 million Americans.
- The announcement includes $5.2 billion in debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs, and nearly $2.8 billion in new debt relief for almost 51,000 borrowers through fixes to "income-driven repayment."
- The new measures aim to alleviate the burden of student loan debt and make college more affordable for Americans, continuing President Biden's commitment to fixing the broken student loan system.
162 Articles
162 Articles
Biden announces more student debt relief as payments resume after the coronavirus pandemic pause
WASHINGTON (AP) — President Joe Biden announced another round of federal student loan forgiveness on Wednesday as borrowers brace for payments to restart after a three-year pause that began during the COVID-19 pandemic. The Democratic president’s latest step will help 125,000 borrowers by erasing $9 billion in debt through existing relief programs. In total, 3.6 million borrowers will have had $127 billion in debt wiped out since Biden took offi…
President Biden cancels another $9 billion in student debt
President Joe Biden delivers remarks on student loan debt forgiveness, in the Roosevelt Room of the White House on Wednesday, Oct. 4, 2023, in Washington.Evan Vucci, Associated Press President Joe Biden announced the forgiveness of another $9 billion in student debt Wednesday, affecting 125,000 borrowers, the White House said in a statement. So far, the Biden administration has forgiven $127 billion in debt, affecting 3.6 million borrowers, per…
Biden Administration Announces New Plan to Forgive $9 Billion of Student Loan Debt
The Biden Administration has announced a new plan to forgive $9 billion in student loans. According to the federal government, President Joe Biden has now forgiven a total of $127 billion in student loan debt for 3.6 million people in the United States. Notably, his previous loan forgiveness plans have been challenged in court and the Supreme Court rejected his large-scale plan over the summer. “President Biden has long believed that college sho…
As student loan payments resume, scam calls promising forgiveness are on the rise
INDIANAPOLIS Student loan repayments are back and so are the scam calls claiming to help you pay those loans off faster.Like millions of other Hoosiers, Anne Schlotman took out student loans to better herself and get a well-paying job.I went to IUPUI for one year in 1995 and I took one loan out for that year, which was roughly $9,000, Schlotman said. I owe Navient $24,000 and I have been paying $300 a month for the last three years. It hasnt mo…
Biden Touts $9B Student Loan Relief After Pandemic Repayment Pause Ends
President Joe Biden on Wednesday announced another $9 billion in student debt relief through improvements to existing programs, a move that will affect 125,000 Americans, and which he touted as leading to economic improvement. Wednesday's announcement focuses on three programs: one for borrowers who have worked in public service for more than a decade; another for those who paid down their loans continuously for 20 years, and who now get credi…
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