Biden Approves Student Debt Cancellation For 74,000 Student Loan Borrowers

[Webster]

(The Guardian) Joe Biden approves debt cancellation of 74,000 student loan borrowers
Joe Biden has approved the debt cancellation for another 74,000 student loan borrowers across the country.

The latest announcement brings the total number of people who have had their debt cancelled under the Biden administration to 3.7 million.

Out of the 74,000 borrowers that were approved for relief, nearly 44,000 of them are teachers, nurses, firefighters and other individuals who earned forgiveness after 10 years of public service.

Additionally, close to 30,000 of them are people who have been in repayment for at least 20 years but never got the relief they earned.

In a statement released on Friday, Biden said: From day one of my administration, I vowed to improve the student loan system so that a higher education provides Americans with opportunity and prosperity – not unmanageable burdens of student loan debt. I won’t back down from using every tool at our disposal to get student loan borrowers the relief they need to reach their dreams.

 

[NeoMetallix]

The big reason tuition is so high in the first place is because of these federal loans. There's separation of church and state and there SHOULD be separation of education and state. Education has gone down the drain ever since central planners got involved.

 

[Webster]

The big reason tuition is so high in the first place is because of these federal loans. There's separation of church and state and there SHOULD be separation of education and state. Education has gone down the drain ever since central planners got involved.

No argument there but there were things they could've done that are within the bounds of the law....
(1) Income-level repayment plans; depending on income level, you can have your monthly payments adjusted so that, as your income increases, your payment increases. After a certain period of time, provided you've made all the payments possible, the remainder of the loan is discharged.
(2) Public-service repayment plans; if you decide to go into public service you can have your monthly loan payments withdrawn as an after-tax benefit each month. After a set period of tine (10 years or so) the remainder of the loan is written off.

Those things are within the bounds of federal law (and many states do similar programs).