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White House cancels $5 billion in student debt for 74k borrowers
(www.nbcnews.com)
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this post was submitted on 19 Jan 2024
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politics
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This is the best summary I could come up with:
WASHINGTON — In a new wave of student loan forgiveness, the Biden administration is canceling $5 billion in debt for 74,000 borrowers, many of whom worked in public sector jobs for more than a decade.
Since the ruling, the White House has launched a series of smaller relief programs.
“My Administration is able to deliver relief to these borrowers — and millions more — because of fixes we made to broken student loan programs that were preventing borrowers from getting relief they were entitled to under the law,” Biden said on Friday.
In December, Biden approved about $4.8 billion in student debt cancelation for more than 80,000 borrowers.
The Supreme Court struck down Biden's student loan relief plan in June, arguing that the program was unlawful because it was not explicitly approved by Congress.
Biden said in Friday's statement that "we are continuing to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible" in the wake of the Supreme Court's decision.
The original article contains 324 words, the summary contains 171 words. Saved 47%. I'm a bot and I'm open source!