President Joe Biden highlighted his efforts to waive over 4 million people’s student loan debt in his State of the Union speech.
Biden mentioned public service loan forgiveness and income-driven repayment programs. Here is some information regarding those programs.
President Joe Biden touted the efforts of his administration to waive roughly 4 million people’s student loan debt.
“I corrected two student loan programs that already existed to lessen the burden of student debt for nearly 4 million Americans, including nurses, firefighters, and others in public service,” Biden stated after being informed that he couldn’t simply modify how we handled student loans for everyone.
Following the Supreme Court’s June blocking of Biden’s expansive plan to cancel student loans, his administration has looked into every option to reduce educational debt for individuals. Almost 3.9 million borrowers have had their debt cancelled as of right now, providing $138 billion in relief.
Learn more about the two initiatives that produced a large portion of the aid that Biden mentioned in his speech.
