Biden forgives additional $72M in student loan debt, defends the ‘cheated’.

The Biden Administration Provides Student Loan Relief

The Biden administration has​ taken a significant step towards alleviating the burden of student​ loan debt. In a recent announcement,⁢ it revealed that $72 million of student loan debt has been wiped clean⁤ for 2,300 ‍student borrowers.

The Department of Education issued a statement on Wednesday, stating that‌ students who attended ​Ashford University, an online school based ‍in San Diego, California, would receive this much-needed relief. Ashford University was⁢ later⁣ acquired by the University ⁤of Arizona. The decision to grant loan relief ‍was made due to educational misrepresentations made to students⁤ between 2009⁢ and 2020.

Supreme Court Decision and⁣ Biden’s⁢ Promise

This announcement ‌comes in ⁢the wake of the Supreme Court striking down the Biden administration’s student loan forgiveness ⁤plan. However, President Joe Biden remains committed to finding alternative ways to provide ​relief to student loan borrowers.

James Kvaal,‌ the United ⁢States Undersecretary of Education, highlighted ​a California court’s⁤ ruling from last year that supported⁤ students’ claims of being misled about school programs and employment⁣ prospects. Kvaal emphasized the importance of holding accountable those ‍who engaged‌ in​ deceptive recruiting tactics, stating, “Today we are ‌protecting​ the students who‌ were cheated by Ashford, and we will also hold the ​perpetrators accountable, protect taxpayers, and deter future wrongdoing.”

With the approval of this relief, the ⁣Biden administration proudly ⁣announced that over 3.4 million individuals have already received loan relief,​ resulting in a⁢ staggering $116 billion in loan discharges.⁤ The Department of Education has approved $14.8 billion in relief for 1.1 million borrowers whose schools either took advantage of them⁤ or closed abruptly.

For more information, click here to read the full ​article from The Washington Examiner.