Biden administration wipes $39B of student debt for more than 800,000 borrowers

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The relief comes just a few months before borrowers have to start repaying their federal student loans after the COVID-19 pandemic triggered a three-year pause.

Supreme Court ruling

A handful of Republican-led states and individuals challenged the constitutionality of Biden’s plan to erase student debt, attempting to stop the rollout of Biden’s plan.“This administration will not stop fighting to level the playing field in higher education,” U.S. Secretary of Education Miguel Cardona said in a statement.Related:

$45 billion for more than 650,000 public servants through its Public Service Loan Forgiveness programand $22 billion for nearly 1.3 million borrowers who were cheated by their schools, saw their schools suddenly close or are covered by related court settlements.

 

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