{"id":1543043,"date":"2022-07-07T14:04:22","date_gmt":"2022-07-07T18:04:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1543043"},"modified":"2022-07-07T16:52:46","modified_gmt":"2022-07-07T20:52:46","slug":"bidens-education-department-releases-plan-to-cancel-student-debt-for-certain-people","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-education-department-releases-plan-to-cancel-student-debt-for-certain-people\/","title":{"rendered":"Biden\u2019s Education Department Releases Plan To Cancel Student Debt For Certain People"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-education-department-releases-plan-to-cancel-student-debt-for-certain-people%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1543043&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The U.S. <a href=\"https:\/\/www.dailywire.com\/topic\/education\">Department of Education<\/a> proposed new regulations on Wednesday to cancel <a href=\"https:\/\/www.dailywire.com\/topic\/student-loans\">student loans<\/a> for individuals whose schools closed or who are permanently disabled.<\/p>\n<p>According to a <a href=\"https:\/\/www.ed.gov\/news\/press-releases\/education-department-releases-proposed-regulations-expand-and-improve-targeted-relief-programs\">press release<\/a> from the agency, the policy would also apply to students whose schools \u201clied to them\u201d and \u201cpublic service workers who have met their commitments\u201d under the Public Service Loan Forgiveness (PSLF) program, which is <a href=\"https:\/\/studentaid.gov\/manage-loans\/forgiveness-cancellation\/public-service\">defined<\/a> as making payments for 120 months while working full-time for a government entity or nonprofit organization.<\/p>\n<p>The move comes after the <a href=\"https:\/\/www.dailywire.com\/topic\/biden-administration\">Biden administration<\/a> canceled roughly $26 billion in student loans, including for students who attended for-profit colleges that have shut their doors, according to the press release.<\/p>\n<p>\u201cWe are committed to fixing a broken system. If a borrower qualifies for student loan relief, it shouldn\u2019t take mountains of paperwork or a law degree to obtain it,\u201d Education Secretary <a href=\"https:\/\/www.dailywire.com\/topic\/miguel-cardona\">Miguel Cardona<\/a> said. \u201cStudent loan benefits also should not be so hard to get that borrowers never actually benefit from them. \u2026 These proposed regulations will protect borrowers and save them time, money, and frustration, and will hold their colleges responsible for wrongdoing.\u201d<\/p>\n<p>The proposed regulations would let borrowers make group claims more quickly and \u201ccurb predatory behavior\u201d from schools by \u201crecouping the costs of such discharges from the college, running for at least six years following the borrower\u2019s last date of attendance at the school.\u201d<\/p>\n<p>Indeed, the Department of Education <a href=\"https:\/\/www.dailywire.com\/news\/federal-government-agrees-to-cancel-student-debt-for-200000-people?%3Futm\">settled<\/a> a class-action lawsuit last month after advocacy groups said the agency ignored students\u2019 loan cancellation claims. Cardona greenlit the elimination of $6 billion in loans for 200,000 borrowers. Likewise, the Department of Education recently <a href=\"https:\/\/www.dailywire.com\/news\/bidens-education-department-issues-largest-single-student-debt-cancelation-in-agency-history\">canceled debt<\/a> from former attendees of Corinthian Colleges, a for-profit entity that filed for bankruptcy in 2015, nixing $5.8 billion in debt among 560,000 borrowers.<\/p>\n<p>\u201cAs of today, every student deceived, defrauded, and driven into debt by Corinthian Colleges can rest assured that the Biden-Harris administration has their back and will discharge their federal student loans,\u201d Cardona <a href=\"https:\/\/www.ed.gov\/news\/press-releases\/education-department-approves-58-billion-group-discharge-cancel-all-remaining-loans-560000-borrowers-who-attended-corinthian-colleges\">remarked<\/a>.<\/p>\n<p>Leading Democrats have argued for the past two years about possibilities for large-scale, one-time loan cancellation policies. The Biden administration is reportedly considering a plan to cancel $10,000 in student loans per borrower after making a <a href=\"https:\/\/medium.com\/@JoeBiden\/joe-biden-outlines-new-steps-to-ease-economic-burden-on-working-people-e3e121037322\">similar promise<\/a> on the campaign trail. However, Senate Majority Leader <a href=\"https:\/\/www.dailywire.com\/topic\/chuck-schumer\">Chuck Schumer<\/a> (D-NY) <a href=\"https:\/\/www.dailywire.com\/news\/this-cpac-footage-is-nuts-progressives-blast-pelosi-for-saying-student-debt-forgiveness-is-a-bad-idea\">argued<\/a> last July that \u201call President Biden has to do is flick his pen\u201d and erase up to $50,000 per borrower, with no need for legislative action.<\/p>\n<p>Two weeks ago, Schumer <a href=\"https:\/\/www.dailywire.com\/news\/schumer-slams-fat-cats-who-dont-want-to-cancel-student-loans\">sought<\/a> to dispel the \u201cawful myth\u201d that student loans are \u201cnot a problem that concerns the wealthy or the Ivy League,\u201d arguing that \u201call of these fat cats, and people who never want to see help for working people and poor people come up with these myths.\u201d<\/p>\n<p>In response, Cato Institute policy scholar Neal McCluskey directed The Daily Wire to Brookings Institution <a href=\"https:\/\/www.brookings.edu\/research\/student-loan-forgiveness-is-regressive-whether-measured-by-income-education-or-wealth\/\">data<\/a> showing that almost one-third of student debt is owed by the wealthiest 20% of households, while 8% is owned by the bottom 20%. \u201cWealthy people do take on debt, and a lot of that debt is for graduate school,\u201d McCluskey remarked, adding that \u201cwealthier people are more likely to go to college and in particular, more likely to go to graduate school than lower-income families.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Department of Education proposed new regulations on Wednesday to cancel student loans for individuals whose schools closed or who are permanently disabled. According to a press release from the agency, the policy would also apply to students whose schools \u201clied to them\u201d and \u201cpublic service workers who have met their commitments\u201d under the &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1540450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1543043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1543043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1543043"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1543043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1540450"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1543043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1543043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1543043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}