Biden Admin Announces Forgiveness Of Another ‘$1.2B In Student Loans’ After Calls For Joe To Step Down – One America News Network

OAN Staff Brooke Mallory
2:31 PM – Thursday, July 18, 2024

Through the Public Service Loan Forgiveness program, the Biden administration said on Thursday that it would be forgiving an additional $1.2 billion in student loan debt, covering around 35,000 other people.

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Back in May, the president also canceled $7.7 billion in student debt for 160,000 borrowers, Reuters reported.

With an average debt of $35,000, teachers, nurses, law enforcement personnel, and first responders are among those who will reportedly obtain debt relief from the newest measure, according to President Biden.

“Today’s announcement comes on top of the significant progress we’ve made for students and borrowers over the past three years. That includes providing the largest increases to the maximum Pell Grant in over a decade; fixing Income-Driven Repayment so borrowers get the relief they are entitled to under the law; and holding colleges accountable for taking advantage of students and families. And earlier this year, I laid out my Administration’s new plans that would cancel student debt for more than 30 million Americans when combined with everything we’ve done so far,” Biden said in a statement.  

Meanwhile, Republicans have criticized Biden’s student debt forgiveness promises and have deemed them an abuse of power and an unfair advantage for college-educated borrowers at the expense of other borrowers who did not obtain the same relief.

Many U.S. taxpayers also contend that they must now pay additional taxes in order to finance college students who were fortunate enough to be granted the chance to pursue their education, while less wealthy individuals and families, who did not want the extra stress of having to pay off their college loan in the future, chose to attend trade school, beauty school, or work in the restaurant or retail industry.

The Biden administration has now provided relief to over 4 million people overall.

However, other former college students have been left wondering when their particular loans will be paid off. Additionally, social media users have questioned how effective it is for the Biden administration to only pay off a small percentage of loans while ignoring the rest.

“Idk anyone who has actually had their loans paid off… Who is this even going to and helping? Does anyone actually know someone who Biden helped out with this forgiveness?” one social media user asked on X (Twitter).