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Biden Administration Cancels Another $9 Billion in Student Loans

HeadlineOct 05, 2023

President Biden has approved another $9 billion in student loan relief, affecting some 125,000 borrowers. More than half the amount will go to 53,000 people who have been working in public service for at least a decade. The rest will be split to provide relief to those enrolled in income-driven repayment plans, and borrowers with disabilities. The latest move to lessen the burden of student debts comes months after the Supreme Court blocked Biden’s plan to cancel up to $20,000 in student debt for tens of millions of people. Despite the right-wing court’s ruling, the Biden administration has been able to pass $127 billion in relief for over 3.5 million borrowers. Debt activists are calling on Biden to cancel all remaining student debt. Federal loan payments resumed October 1 after a pause of more than three years during the pandemic.

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