Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
In reply to the discussion: GFQ... [View all]LetMyPeopleVote
(177,271 posts)22. Biden pledged to forgive $10,000 in student loan debt. Here's what he's done so far
Here are some facts
https://www.npr.org/2021/12/07/1062070001/student-loan-forgiveness-debt-president-biden-campaign-promise
The Biden administration's approach to student loan relief began with improving, extending or expanding a handful of programs that were already on the books.
"We're working really hard to get students the relief that they're entitled to" through these preexisting programs, Undersecretary of Edu
While it's not loan forgiveness, Biden extended the pandemic pause on federal student loan payments; that pause is now slated to lift in February. His other actions essentially keep promises the U.S. government had already made to borrowers rather than make new ones. For example:
Through these efforts, the Education Department says it has discharged or is in the process of discharging roughly $12.7 billion in student debt, affecting more than 638,000 borrowers.
"We're working really hard to get students the relief that they're entitled to" through these preexisting programs, Undersecretary of Edu
While it's not loan forgiveness, Biden extended the pandemic pause on federal student loan payments; that pause is now slated to lift in February. His other actions essentially keep promises the U.S. government had already made to borrowers rather than make new ones. For example:
Total and permanent disability discharge: In August, Education Secretary Miguel Cardona announced that the department would erase the federal student debts of thousands of borrowers with permanent disabilities. A 2019 NPR investigation found that, even though eligible borrowers have been legally entitled to a full discharge of their loans, the process was so complicated that fewer than half were able to shed their debts. The latest data from the Education Department suggests that these changes will help at least 370,000 borrowers drop more than $6.5 billion in student debts.
Borrower defense and closed-school discharge: The Biden administration has dramatically expanded efforts to help students who have been defrauded by for-profit colleges and/or whose schools have been forced to close. Defrauded students who previously filed "borrower defense" claims but were given only partial relief under Trump administration rules will now see the rest of their federal student loans discharged.
Public Service Loan Forgiveness (PSLF): The program meant to forgive borrowers' debts after 10 years of public service and steady loan payments has been notoriously stingy, with complex rules and serial mismanagement pushing out many eligible borrowers. In October, though, the department used its expanded pandemic authority to retroactively loosen those rules and give borrowers credit for disqualified loan payments. According to the department, the overhaul has already forgiven $2 billion in debts.
Through these efforts, the Education Department says it has discharged or is in the process of discharging roughly $12.7 billion in student debt, affecting more than 638,000 borrowers.
Edit history
Please sign in to view edit histories.
Recommendations
0 members have recommended this reply (displayed in chronological order):
35 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Biden pledged to forgive $10,000 in student loan debt. Here's what he's done so far
LetMyPeopleVote
Feb 2022
#22
No. It's actually $20 million per year for a possible term of 20 years. A far cry from $625 million.
George II
Feb 2022
#30
Correct. He can certainly make the case, but the Dept of Ed has a lot more to say about it.
Budi
Feb 2022
#5
In addition, since he's been "quoted" as saying he would cancel all school debt, this is what...
George II
Feb 2022
#17
Thank you to everyone pointing out Biden can't cancel student debt, up to Congress.
betsuni
Feb 2022
#11
He, Warren, and several members of the House tweet something like this every day or two....
George II
Feb 2022
#14
Are you insinuating that he's lacking in leadership? Are you not aware of the fact...
George II
Feb 2022
#28
"Biden has already cancelled billions of dollars of student debt for thousands of American"
progressoid
Feb 2022
#31
He can do SOME OF IT, not all of it!! If it was on the back burner then why did he already....
George II
Feb 2022
#33
To do what Sanders is suggesting, would amount to subverting the powers of Congress to the Executive
Budi
Feb 2022
#23
Biden is already fixing a student loan ripoff of something like 1.3 M borrowers.
Hortensis
Feb 2022
#27