WEB Breaking down Biden's new student debt relief plans
Biden's new student debt relief plans
President Joe Biden once again is trying to deliver widespread student debt forgiveness. The latest plan is his most ambitious since an earlier student loan forgiveness programoffering up to $20,000 in relief to borrowers.
Biden's 2022 student loan forgiveness plan
President Biden's 2022 student loan forgiveness plan relied on the Higher Education Relief Opportunities for Students Heroes Act of 2003. The Biden-Harris Administration today is announcing that it will automatically discharge $12 billion in loans for nearly 153,000 borrowers.
Biden-Harris Administration announces additional student loan debt relief
The Biden-Harris Administration announced today the approval of $58 billion in additional student loan debt relief for 777,000.
Conclusion
The Biden administration's student loan forgiveness plans are a significant step toward addressing the student debt crisis. These plans will provide much-needed relief to millions of borrowers, and they will help to make higher education more affordable for future students.
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