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Biden Eliminates Student Loan Debt

Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

Americans are furious.

According to Fox, thousands of current and former students who held student loan debt have had it wiped away by President Biden and his administration.

Under new guidelines by the Public Service Loan Forgiveness Program it is predicted that around 40,000 more individuals will have their student loan debt completely wiped away. Now, Biden could also erase the debt for millions of more Americans.

President Biden’s Secretary of Education Miguel Cardona said, “Student loans were never meant to be a life sentence, but it’s certainly felt that way for borrowers locked out of debt relief they’re eligible for. Today, the Department of Education will begin to remedy years of administrative failures that effectively denied the promise of loan forgiveness to certain borrowers enrolled in IDR plans.”

“These actions once again demonstrate the Biden-Harris administration’s commitment to delivering meaningful debt relief and ensuring federal student loan programs are administered fairly and effectively,” he went on to say.

President Biden has already extended the pause on student loan payments twice now initially in response to the COVID-19 pandemic and now his next move appears to be complete loan forgiveness.

Americans who have already paid off their student loan debt or took actions in the past to prevent themselves from going into crippling debt are now upset with Biden and asking who will pay them back for their responsible financial decisions.