Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Comments
Bookmark
Share
Add to Playlist
Report
Biden Administration forgives another $7.4 billion in student debt
The Street
Follow
4/12/2024
TheStreet’s Caroline Woods brings you the biggest news of the day, including what investors are watching and the Biden Administration’s continued effort to curb student loan debt.
Category
🥇
Sports
Transcript
Display full video transcript
00:00
I'm Caroline Woods reporting from the New York Stock Exchange.
00:03
Here's what we're watching on the street today.
00:06
Stocks are looking to round out a mixed week after seeing both red and green throughout
00:10
the week.
00:11
Investors are reacting to a trio of big bank earnings.
00:15
JP Morgan, Citi and Wells Fargo all reported before the opening bell and all three beat
00:20
Wall Street's estimates.
00:22
The earnings parade will continue next week with big names like Netflix, American Express
00:27
and Bank of America set to report.
00:30
In other news, the Biden administration has announced another round of student loan forgiveness.
00:35
The White House plans to forgive $7.4 billion in student loan debt for 277,000 borrowers.
00:43
206,000 will have a collective $3.6 billion in debt wiped out through the administration's
00:48
saving on a valuable education plan.
00:51
65,000 will see their debt erased through the Department of Education's income-driven
00:55
repayment plans and 4,600 will have their debt taken care of through a program for public
01:00
servants.
01:01
Of the latest round of debt forgiveness, U.S. Secretary of Education Miguel Cardona said,
01:06
quote, "As long as there are people with overwhelming student debt competing with basic needs such
01:11
as food and health care, we will remain relentless in our pursuit to bring relief to millions
01:16
across the country."
01:18
The Biden administration has forgiven $153 billion in debt for more than 4 million Americans
01:24
since the president took office.
01:27
That'll do it for your daily briefing from the New York Stock Exchange.
01:30
I'm Caroline Woods with The Street.
01:32
Thanks.
01:32
Thanks.
01:33
[BLANK_AUDIO]
Recommended
0:22
|
Up next
Bezos-Sanchez Wedding Brings in $1.1B for Venice
Cheddar News
yesterday
1:55
Biden Administration is, again, allowed to forgive student debt
The Street
10/3/2024
1:36
Biden Administration forgives another $1.2 billion in student debt
The Street
2/21/2024
1:44
Biden Administration announces another round of student loan forgiveness
The Street
5/22/2024
1:45
Judge continues to block Biden student debt relief plan
The Street
9/19/2024
1:48
Federal appeals court approves Biden student debt relief plan
The Street
7/1/2024
1:46
Biden forgives another round of student debt
The Street
1/13/2025
1:48
Biden administration approves $9 billion in student loan forgiveness
The Street
10/5/2023
1:48
60,000 more Americans receive student debt relief
The Street
10/17/2024
1:47
Education Department issues another round of student debt relief
The Street
7/18/2024
1:56
Biden to forgive $4.28 billion in student loan debt
The Street
12/20/2024
1:57
Credit Card debt is a growing concern
The Street
10/15/2024
1:01
More than 20% of federal student loan borrowers are seriously delinquent
The Street
5/6/2025
0:30
Biden Forgives Over $4 Billion in Student Loan Debt for Public Service Workers
Benzinga
12/20/2024
0:38
Biden Announces Final Plan Forgiving Debt For Over 150,000 Borrowers In Final Days In White House
Benzinga
1/14/2025
0:44
Suze Orman issues stark warning on student loan debt
The Street
5/8/2025
0:41
Biden On Track To Break Trump's Record, Says Peter Schiff, As US Debt Tops $35 Trillion And Counting
Benzinga
7/30/2024
0:46
Debt Ceiling Deal: What It Entails
The Street
5/30/2023
1:01
The U.S. debt crisis is worse than you think
The Street
5/28/2025
0:52
With $1.6 Trillion Owed By 42.7 Million Student Loan Borrowers, Federal Government Resumes Collections After 5 Years As Delinquencies Reach Record High
Benzinga
5/6/2025
1:40
President Biden to corporations: Lower your prices
The Street
11/28/2023
4:29
Biden announces who can have $10,000 erased in student loans
Insider
8/25/2022
1:53
More affluent Americans are living paycheck to paycheck
The Street
10/28/2024
2:19
How to save for retirement while paying off student loans
The Street
6/20/2024
0:42
Biden Cancels $4.5 Billion In Student Debt For Public Service Workers. PSLF Program Hits Milestone With 1 Million Borrowers Assisted.
Benzinga
10/17/2024