The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt, for 80,300 borrowers.

The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt, for 80,300 borrowers.

The relief is a result of the U.S. Department of Education’s fixes to its income-driven repayment plans and Public Service Loan Forgiveness program.

“Before President Biden took office, it was virtually impossible for eligible borrowers to access the student debt relief they rightfully earned,” U.S. Secretary of Education Miguel Cardona said in a statement. “This level of debt relief is unparalleled and we have no intention of slowing down.”

  • cheese_greater@lemmy.world
    176·
    1 year ago

    Can’t wait to hear the businesses who received and were forgiven for PPP “loans” bitch en masse about the unfairness of it all

    Edit: nonetheless, this is good news everyone

    • hibsen@lemmy.world
      28·
      1 year ago

      Their tears sustain me. God forbid someone actually help people instead of corporations pretending to be people.

    • Cerbero@lemmy.world
      4·
      1 year ago

      It’s even worse the IG thatbwas over it said that we probably lost 500 billion that we will never know where it went.

    • Ann Archy@lemmy.world
      4·
      1 year ago

      It’s socialism! And socialism is bad, in case we weren’t clear on that. Under socialism, healthcare doesn’t work, infrastructure crumbles, power and money is concentrated among a few oligarchs, people can’t afford to pay for rent or food, crime and corruption is rampant, police systematically abuse their powers, the courts are overwhelmed, prisons are overcrowded, there’s violence in the streets, and you don’t have any real voice and your vote doesn’t matter.

      How would you like living under THOSE conditions, huh? Exactly. Vote R!

    • Empricorn@feddit.nlEnglish
      3·
      1 year ago

      Sometimes good news can just be good news. We don’t have to be cynical about absolutely everything…

    • doingthestuff@lemmy.world
      3·
      1 year ago

      Those loans weren’t really presented as loans through. It was literally “hey if you meet the requirements take this money and you won’t have to pay it back”. My small nonprofit got about $56k total and it was really helpful with all the restrictions they were mandating.

  • yokonzo@lemmy.world
    48·
    1 year ago

    Wait, “ an additional?” I never even got the first one because it was blocked by some asshats who think they’re more important

    • key@lemmy.keychat.orgEnglish
      49·
      1 year ago

      It’s not referring to the blanket partial forgiveness that got blocked by the SC for made up reasons. This is about the longstanding forgiveness programs that had huge backlogs of applicants that the admin is now working through. It’s additional people being approved (and the sum of their debt), not additional relief for everyone.

      • Asafum@feddit.nl
        2·
        1 year ago

        Read: it’s an easy “win” to help with the election where they can trick people into thinking they did part of the original plan as opposed to finally working on something they already promised in the past. Fucking politics man…

        I don’t even have a dog in this fight, I never went to college because I couldn’t figure out what I wanted and didn’t want to have a boatload of loans that went to nothing. IM ONLY SLIGHTLY BITTER ABOUT THAT! Lol Still happy people are getting some relief though.

  • jballs@sh.itjust.worksEnglish
    34·
    1 year ago

    Looks like they forgave people still paying off loans after 20 years. We’ve got 19 on ours so just missed it!

  • Ann Archy@lemmy.world
    19·
    1 year ago

    Sure, but remember, he is an impotent old man who gets nothing done but also somehow runs a shadow conspiracy centered around Pizza Hut!
    At least that’s the mainstream story and we’re DEFINITELY sticking with it!