The Biden administration will write off $7.4 billion in student debt, offering relief to 277,000 borrowers, the White House said in a statement Friday. Earlier this month, according to APE-MPE, US President Joe Biden had announced a plan for student debt relief that would benefit at least 23 million Americans. Biden last year promised to find other ways to relieve debt after the Supreme Court in June blocked his broader plan to write off $430 billion in student debt. The US president's efforts to write off student loans have been sharply criticized by many Republicans, who argue that the president is shifting the cost to taxpayers who chose not to go to college or who already paid for it themselves. They also argue that it bypasses the Supreme Court, which struck down Biden's student loan forgiveness program last year. In recent weeks, two Republican-led groups of lawmakers have sued the Biden administration for […]
Source: News Beast
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