Biden's $4.8B Student Debt Pardon: Unprecedented Relief

The Biden administration forgives $4.8 billion in student loan debt for 80,300 borrowers.

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Relief stems from fixes to income-driven repayment plans and loan forgiveness programs.

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Previously, borrowers struggled to access earned debt relief, says Education Secretary Miguel Cardona.

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$2 billion aids $46,000 in income-driven repayment plans; loan servicer errors often prevent forgiveness.

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34,400 public service workers receive $2.6 billion in loan cancellations.

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The Public Service Loan Forgiveness program faced issues with debt erasure due to payment errors.

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Biden has canceled nearly $132 billion in student debt for over 3.6 million Americans.

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Higher education expert Mark Kantrowitz believes this action may aid Biden in his reelection.

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Republican figures like Chris Christie and Ron DeSantis oppose mass student loan forgiveness.

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A political/morning consultation poll shows a 2-to-1 margin of voters supporting at least partial loan forgiveness.

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