President Joe Biden, in his final days in office, announced plans to forgive student debt for over 150,000 borrowers. The relief package provides debt cancellation for borrowers affected by school fraud, total and permanent disabilities, and public service employment. Since taking office, Biden's administration has provided over $180 billion in relief to more than 5 million federal student loan borrowers. Biden leveraged existing Department of Education programs to cancel significant portions of student debt, despite the Supreme Court blocking his broader loan forgiveness plan in 2023.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Joe Biden, in his final days in office, announced plans to forgive student debt
00:06for over 150,000 borrowers. The relief package provides debt cancellation for borrowers
00:11affected by school fraud, total and permanent disabilities, and public service employment.
00:16Since taking office, Biden's administration has provided over $180 billion of relief
00:21to more than 5 million federal student loan borrowers. Biden leveraged existing Department
00:25of Education programs to cancel significant portions of student debt,
00:29despite the Supreme Court blocking his broader loan forgiveness plan in 2023.