The Daily Populous Saturday December 21st, 2024 morning edition
Authored by cnbc.com and submitted by No-Information6622

U.S. President Joe Biden delivers remarks on the economy at the Brookings Institution in Washington, DC, U.S. December 10, 2024.

The Biden administration announced Friday that it would forgive another $4.28 billion in student loan debt for 54,900 borrowers who work in public service.

The relief is a result of fixes the U.S. Department of Education made to the once-troubled Public Service Loan Forgiveness program.

The debt relief comes in President Joe Biden's final weeks in office.

Biden has forgiven more student debt than any other president. He has cleared nearly $180 billion for 4.9 million people with student debt.

Still, Republican-led legal challenges have stymied all of Biden's attempts at delivering wide-scale relief.

Imogynn on December 20th, 2024 at 19:50 UTC »

Your higher education system is corrupt as fuck.

After 10 years of payments the average student is still 75k in debt?? There is no rational world where your education was reasonably priced.

But they probably do need a new admin building and a lazy river.

msrichson on December 20th, 2024 at 19:08 UTC »

Misleading headline that leads to confusion for all borrowers. The government agreed to forgive all loans for people that work for the government or are in a non-profit job so long as you make 120 payments (10 years). This is the PSLF program. It was signed into law in 2007.

https://en.wikipedia.org/wiki/Public_Service_Loan_Forgiveness

As a result, the first people who were eligible was in 2018. The program was a mess, and Trump had no interest in honoring the program. So to say that Biden has forgiven more debt than any other president is true, but also the program only started forgiving in debt in 2018...

Superpe0n on December 20th, 2024 at 19:02 UTC »

works out to an average of $78k-ish per borrower