The Biden Administration Forgives An Additional $7.4 Billion In Student Loan Debt, Targeting Unfair Loan Programs

President Joe Biden continues to forgive loans whose programs have taken advantage of borrowers by their unfair terms. The recipients of these forgiveness programs are lower income borrowers, people who have made at least 10 years of payments if they originally took out $12,000 or less in loans to pay for college, public servants like teachers and government employees, and over 65,000 people who met the terms of their loans, only to find themselves still in debt. After the Supreme Court blocked President Biden’s forgiveness of $400 billion in loans, the Biden administration continues to attack the problem piecemeal. Thus far, Biden has forgiven over 4.3 million student borrowers and a total debt of $153 billion, and counting.

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