Sunday, April 14, 2024

Find out how many student loans Biden has forgiven

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President Joe Biden wanted to help students by wiping out their debt, but the top judges said no. However, he’s still managed to cancel a lot of student debt compared to other presidents.

As the election approaches, Biden’s team wants people to know what he’s done about student debt. They sent happy emails to over 150,000 people who got their debt canceled. Even though some Democrats wish he did more.

Since becoming president, Biden has canceled about $138 billion in student loans for nearly 4 million people. That’s almost 9% of all the student debt out there.

One plan Biden had would have canceled even more debt, up to $20,000 for lower-income earners. But the judges didn’t let him do it. They said only Congress can make such big changes.

Instead, Biden’s been using existing programs to help specific groups, like public workers and people tricked by their colleges. He’s also trying to fix past mistakes in how loans were managed.

Biden’s administration is making progress, but some Democrats think he could do more. They wanted him to cancel $50,000 of debt for each person. Biden thought that was too much.

Still, Biden’s team is working on another plan to forgive more debt. But it’s a long process, and they’re not done yet. We’ll have to wait and see how it all plays out.

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