Incoming U.S. Ambassador to Israel Mike Huckabee discusses the “conclusion” of President Biden’s upcoming foreign policy speech.
president biden On Monday, he announced the approval of student loan benefits for more than 150,000 people, and the White House touted that more than 5 million people in total will receive benefits during the president’s term.
With one week left in his term, Biden said his administration has “taken historic action to ease the burden of student debt, hold bad actors accountable, and fight for students across America.” .
“Among these 150,000 borrowers are approximately 85,000 who attended schools that defrauded students and 61,000 who are physically or permanently disabled,” Biden said in a statement. , including 6,100 civil servants.”
Biden also boasted that his administration had raised the highest Pell grant amount on record in the past decade.
Biden administration reverses course and reinstates income-based student loan repayment program
President Biden has made reducing student debt a top priority during his administration. (Ron Sacks/Getty Images)
“I have promised that higher education is a ticket to the middle class, not a barrier to opportunity, and I am proud that we have forgiven more student loan debt than any administration in history,” Biden said in a statement. said.
The Department of Education noted that this measure brings the total amount of benefits provided by the administration to $183.6 billion.
Last month, two student loan repayment plans were reinstated for enrolled students by the Department of Education (DOE) following a federal court injunction. Biden administration’s Savings with Valued Education (SAVE) Program.
Supreme Court rules on Biden’s student loan debt benefits
President Biden speaks at an event in Madison, Wisconsin, April 8, 2024. (Daniel Steinle/Bloomberg via Getty Images/Getty Images)
New enrollments in pay-as-you-earn (PAYE) and income-contingent repayment (ICR) programs were stopped last summer in an effort to phase them out and encourage borrowers to enroll in the Biden-Harris administration’s SAVE plan However, now the public can participate. Please sign up again.
The two reinstated plans offer public service loan forgiveness and income-based repayment credits. Monthly payments are set based on a borrower’s income and family structure, and borrowers can receive forgiveness after an “extended payment period,” according to the DOE.
Melissa Byrne joins student loan borrowers during a rally in front of the U.S. Supreme Court on June 30, 2023 in Washington, D.C., to demand that President Biden use “Plan B” to immediately cancel student loans. (center). (Paul Morigi/We The 45 Million/Getty Images)
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According to the DOE, new PAE and ICR registrations will be accepted until July 1, 2027.
