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(22,947 posts)
Fri Mar 1, 2024, 01:14 AM Mar 1

Joe Biden Used One Weird Trick To Cancel Student Debt For Me And 804,000 Other Americans... [View all]

This is an excellent article about student loan forgiveness. The adjustments will continue through 2024. Anyone who has a student loan and may not believe that they are eligible should definitely read it! You will be pleased and it's more evidence that President Biden may be the best we've ever had.

Joe Biden Used One Weird Trick To Cancel Student Debt For Me And 804,000 Other Americans It's not a bailout or a giveaway. It's Justice.


The Biden administration announced Friday that it had processed the first round of a huge adjustment to student loan debt, which will result in $39 billion in debt being canceled for some 804,000 borrowers. The loan adjustment was announced last year, and will provide debt relief to borrowers who were, to put it bluntly, ripped off by incompetent or downright fraudulent mismanagement of the government’s Income-Driven Repayment (IDR) program. And yes, we said this was the first round: If you think you might qualify for this relief too, you have until the end of 2023 to get in line for the next rounds, as we’ll discuss later.

Secretary of Education Miguel Cardona said in a press release,

For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness. Today, the Biden-Harris Administration is taking another historic step to right these wrongs and announcing $39 billion in debt relief for another 804,000 borrowers. By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve.

Wait, Didn’t The Supremes Just Throw This Out?
Nope! Friday’s good news for nearly more than 800,000 borrowers — with more to follow — came two weeks after the Supreme Court threw out Biden’s broader plan to forgive up to $20,000 for millions of borrowers. The program announced Friday had nothing at all to do with that plan, and had in fact been promised by the Biden-Harris administration in April 2022, so you are now more well-informed than a lot of idiots on Twitter who screamed “But it’s ILLEGAL!!!!”

You’re also better-informed than Sen. Marsha Blackburn (R) and the Heritage Foundation, who we assume knew better but nonetheless condemned Biden for trying to “circumvent” the Court’s decision on a completely different thing. Why yes, that sort of thing does indeed piss us off.
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