Despite Supreme Court ruling, Biden unveils $39 billion in new student loan debt forgiveness
(Worthy News) – Just weeks removed from a Supreme Court ruling that declared its student loan forgiveness program unconstitutional, the Biden administration on Friday announced new relief for students that will cancel $39 billion in debt for more than 804,000 past students.
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” Education Secretary Miguel Cardona said in a statement. “By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve.”
The justices voted 6-3 last month to strike down Biden’s plan to forgive up to $20,000 in debt for 43 million student loan borrowers, concluding the president did not have the legal authority to do so without legislation from Congress. [ Source: Just the News (Read More…) ]