About two weeks after the Supreme Court shot down its initial forgiveness plan, the Biden Administration is moving to wipe out $39B in student loans for 804,000 people.
As a result, it looks like President Joe Biden is following through after previously proclaiming, “This fight is not over.”
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The Move Is An Effort To Get Thousands Of Borrowers “The Forgiveness They Deserve”
The news came in a statement from the White House on Friday (Jul. 14).
Within the press release, the administration noted that the U.S. Department of Education would “begin notifying borrowers that their federal loans will be discharged following fixes to [income-driven] repayment plans.”
“Eligible borrowers will be informed by the [U.S. Department of Education]Â starting today if they qualify for forgiveness without further action on their part.”
In response to the announcement, Miguel Cardona — the U.S. Secretary of Education — declared they’re “ensuring everyone gets the forgiveness they deserve,” per NBC News.
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness. By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve.”
On Twitter, Cardona added, “We are keeping our promise to fix the broken student loan system.”
Joe Biden Previously Declared That He Wouldn’t “Stop Fighting” To Clear Student Loan Debt
This move comes only a couple of weeks after the Supreme Court shot down an earlier forgiveness plan.
As The Shade Room previously reported, the Supreme Court rejected the Biden Administration’s $400B student loan forgiveness plan late last month.
Specifically, the Supreme Court’s conservative majority ruled against the plan, with AP News reporting that Chief Justice John Roberts said the Higher Education Relief Opportunities for Students (HEROES) Act of 2003 “does not authorize the loan cancellation plan,” as Biden argued.
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In response to the ruling, Biden declared that he wouldn’t “stop fighting to deliver borrowers what they need.”
“I’m not going to stop fighting to deliver borrowers what they need, particularly those at the bottom end of the economic scale. So, we need to find a new way. And we’re moving as fast as we can.”
He added, “Today’s decision has closed one path. Now we’re going to pursue another.”
“I’m never going to stop fighting for you. We’ll use every tool at our disposal to get you the student debt relief you need and reach your dreams.”
