{"id":1029685,"date":"2024-02-21T16:39:13","date_gmt":"2024-02-21T16:39:13","guid":{"rendered":"https:\/\/democrats.org\/?p=1029685"},"modified":"2024-05-20T02:52:21","modified_gmt":"2024-05-20T02:52:21","slug":"new-biden-harris-administration-announces-1-2-billion-in-student-loan-forgiveness-as-trump-rails-against-life-changing-relief","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-biden-harris-administration-announces-1-2-billion-in-student-loan-forgiveness-as-trump-rails-against-life-changing-relief\/","title":{"rendered":"NEW: Biden-Harris Administration Announces $1.2 Billion in Student Loan Forgiveness As Trump Rails Against Life-Changing Relief"},"content":{"rendered":"\n
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In response to another historic student loan debt relief announcement from the Biden-Harris administration, <\/em>DNC Rapid Response Director Alex Floyd released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cWhile President Biden continues to deliver on his promise to fix the broken student loan system and make college more affordable, Donald Trump is railing against life-changing relief for hardworking students and families. By canceling more student debt than any president in history and providing billions in relief for millions of student loan borrowers, President Biden is growing the economy from the bottom up and middle out \u2014 even as Trump and MAGA Republicans try to stand in the way.\u201d<\/p>\n\n\n\n

NEW: President Biden\u2019s administration is canceling $1.2 billion in student loans as he continues to deliver on providing relief to hardworking students and families.<\/strong><\/p>\n\n\n\n

Politico<\/a>: \u201cBiden will email 153,000 student loan borrowers: I\u2019m canceling your debt\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cBiden administration cancels $1.2B in student loans with new repayment plan\u201d<\/strong><\/p>\n\n\n\n

\u201cStarting Wednesday, President Biden will email 153,000 student loan borrowers enrolled in his signature repayment plan to let them know their debts \u2014 totaling $1.2 billion \u2014 have been forgiven.<\/strong><\/p>\n\n\n\n

\u201cThe notice makes good on the administration\u2019s promise to accelerate forgiveness for borrowers with low original balances who are enrolled in the Saving on a Valuable Education (Save) plan.\u201d<\/p>\n\n\n\n

President Biden has taken historic action to make college more affordable \u2013 under his watch, millions of Americans have gotten their debt canceled.<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cWith this latest round of student loan forgiveness, the Biden administration has approved almost $138 billion in debt relief for 3.9 million people.\u201d<\/strong><\/p>\n\n\n\n

The Guardian<\/a>: \u201cBiden launches \u2018most affordable ever\u2019 student loan repayment plan\u201d<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201cBiden Cancels Another $5 Billion in Student Loan Debt\u201d<\/p>\n\n\n\n

Forbes<\/a>: \u201cHow Biden Forgiving Another $9 Billion In Student Loan Debt Helps Close The Racial Wealth Gap\u201d<\/strong>
<\/p>\n\n\n\n

\u201cThe burden of student loan debt has reached crisis levels, disproportionately affecting students of color and amplifying the racial wealth gap. Now, President Biden’s latest step will help 125,000 borrowers by erasing $9 billion in debt through existing programs. This debt load is not distributed evenly across populations, it falls disproportionately on students of color and their families who are actively trying to close the racial wealth gap.\u201d<\/strong><\/p>\n\n\n\n

Meanwhile, Donald Trump failed to deliver on student loan debt forgiveness, and he has taken credit for his hand-picked Supreme Court justices striking down President Biden\u2019s student loan debt forgiveness plan. <\/strong><\/p>\n\n\n\n

Daily Mail<\/a>: \u201cFormer President Donald Trump \u2026 went after President Joe Biden for his student loan forgiveness plan.<\/strong> \u2018Joe Biden and the Radical Left Democrats have just orchestrated another election enhancing money grab, this time to the tune of $300,000,000,000 – and just like I predicted, it\u2019s coming right out of the pocket of the working-class Americans who are struggling the most!\u2019 Trump said in a statement released Thursday morning.\u201d<\/p>\n\n\n\n

CNBC<\/a>: \u201cFormer President Donald Trump \u2026 has a long record of opposing student loan forgiveness.\u201d<\/strong><\/p>\n\n\n\n

\u201c\u2018Today, the Supreme Court also ruled that President Biden cannot wipe out hundreds of billions, perhaps trillions of dollars, in student loan debt, which would have been very unfair to the millions and millions of people who paid their debt through hard work and diligence; very unfair,\u2019 Trump said at a campaign event in June.\u201d<\/p>\n\n\n\n

Trump campaign press release<\/a>: \u201cLast week, the U.S. Supreme Court handed down massive wins for the American people\u2014 halting Joe Biden\u2019s unconstitutional student loan gimmick, restoring fairness to the college admissions process, and applying the strongest safeguards to First Amendment rights in a generation. One thing is clear: these wins were only made possible through President Trump\u2019s strong nomination of three distinguished and courageous jurists to the Supreme Court.\u201d<\/p>\n\n\n\n

Associated Press<\/a>: \u201cEducation advocates say President Donald Trump\u2019s budget contradicts his campaign pledge to make college more affordable<\/strong> with its proposed elimination of subsidized student loans and cuts in other programs that help students pay tuition. \u2026 When he accepted the Republican presidential nomination last year, Trump had said, \u2018We\u2019re going to work with all of our students who are drowning in debt to take the pressure off these people just starting out in their adult lives. Tremendous problem.\u2019\u201d<\/p>\n\n\n\n

NBC News<\/a>: \u201cTrump also attempted to cut billions from the department\u2019s budget that would have ended subsidized student loans and the public service loan forgiveness program.\u201d<\/p>\n\n\n\n

Politico<\/a>: \u201c[Trump\u2019s] Education Secretary Betsy DeVos on Friday finalized rules that make it more difficult for federal student loan borrowers to cancel their debt on the grounds that their college defrauded them, scaling back an Obama-era policy aimed at abuses by for-profit colleges.\u201d<\/p>\n\n\n\n

Politico<\/a>: \u201cTrump and DeVos fuel a for-profit college comeback\u201d<\/strong><\/p>\n\n\n\n

New York Times<\/a>: \u201cA DeVos System Allowed 12 Minutes to Decide Student Loan Forgiveness\u201d<\/p>\n\n\n\n

\u201c[Trump\u2019s] former Education Secretary Betsy DeVos made no secret of her disdain for a program intended to forgive the federal student loans of borrowers who were ripped off by schools that defrauded their students. She called it a \u2018free money\u2019 giveaway, let hundreds of thousands of claims languish for years and slashed the amount of relief granted to some successful applicants to $0. \u2026 In Ms. DeVos\u2019s final year in office, her agency denied nearly 130,000 claims \u2014 far surpassing the 9,000 rejections in the prior five years \u2014 with a system that pressured workers to speed through applications in a matter of minutes<\/strong>, according to internal Education Department documents filed in federal court.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In response to another historic student loan debt relief announcement from the Biden-Harris administration, DNC Rapid Response Director Alex Floyd released the following statement:  \u201cWhile President Biden continues to deliver on his promise to fix the broken student loan system and make college more affordable, Donald Trump is railing against life-changing relief for hardworking students […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1029685","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW: Biden-Harris Administration Announces $1.2 Billion in Student Loan Forgiveness As Trump Rails Against Life-Changing Relief - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-biden-harris-administration-announces-1-2-billion-in-student-loan-forgiveness-as-trump-rails-against-life-changing-relief\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-21T16:39:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-20T02:52:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/05\/War-Room-Master-Image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-biden-harris-administration-announces-1-2-billion-in-student-loan-forgiveness-as-trump-rails-against-life-changing-relief\/\",\"url\":\"https:\/\/democrats.org\/news\/new-biden-harris-administration-announces-1-2-billion-in-student-loan-forgiveness-as-trump-rails-against-life-changing-relief\/\",\"name\":\"NEW: Biden-Harris Administration Announces $1.2 Billion in Student Loan Forgiveness As Trump Rails Against Life-Changing Relief - 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