Biden’s Plan B on Student Loan Forgiveness Is a Massive and Improbable Success

The Supreme Court’s rejection of President Joe Biden’s student debt cancellation plan last year was a major blow to his agenda. While the White House pledged it would still trudge forward andto grant widespread debt relief, Biden warned it would be a lengthy process. In the meantime, however, the president has wasted no time making critical changes to existing federal student loan programs to follow through on his campaign promise. As of Feb. 23, these actions have resulted in $136.

About 40 percent of that forgiveness came from changes to the Public Service Loan Forgiveness program, where borrowers who work in federal, state, local, or tribal government or at a nonprofit are eligible for loan forgiveness after making payments for 10 years. For years, this program was notoriously difficult to navigate and at one point hadthat it was virtually impossible for most borrowers to obtain the debt relief owed to them by law.

Source: Education Headlines (educationheadlines.net)

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