Republicans attack Biden over plan to forgive $39 billion in student loan debt
Oliver Willis
July 14, 2023
Republicans attacked President Joe Biden after his administration announced on Friday that it would forgive $39 billion in student loans, aiding over 804,000 people.
The Department of Education said in a statement that loan forgiveness was made possible through fixes made to the federal student loan system, specifically in counting “the number of monthly payments that qualify toward forgiveness under income-driven repayment (IDR) plans.” Income-driven repayment plans are designed for low-income borrowers and set repayment rates at affordable levels.
“By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans. This Administration will not stop fighting to level the playing field in higher education,” Education Secretary Miguel Cardona said in the statement.
