{"id":1973004,"date":"2023-07-14T12:14:01","date_gmt":"2023-07-14T16:14:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-cancel-39-billion-in-student-debt\/"},"modified":"2023-07-14T12:15:20","modified_gmt":"2023-07-14T16:15:20","slug":"biden-to-cancel-39-billion-in-student-debt","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-cancel-39-billion-in-student-debt\/","title":{"rendered":"Biden to erase $39B student debt."},"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\">12<\/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%2Fbiden-to-cancel-39-billion-in-student-debt%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=1973004&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--><div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">U.S. President Joe Biden, joined by Education Secretary Miguel Cardona, speaks on student loan debt in the Roosevelt Room of the White House August 24, 2022 in Washington, DC. (Photo by Alex Wong\/Getty Images)<\/figcaption><\/figure>\n<h2>OAN\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.oann.com\/tag\/roy-francis\/\" target=\"_blank\">Roy Francis<\/a><br \/>9:07 AM \u2013 Friday, July 14, 2023<\/h2>\n<p>The Biden administration has made a groundbreaking announcement regarding student debt. They will be cancelling a total of $39 billion in student debt, which will have a significant impact on approximately 804,000 borrowers.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, the Department of Education has started notifying 804,000 student loan borrowers that they will have $39 billion in Federal student loans automatically discharged in the coming weeks. <a href=\"https:\/\/t.co\/WXbrXxiSTZ\">https:\/\/t.co\/WXbrXxiSTZ<\/a><\/p>\n<p>\u2b07\ufe0f Read more \u2b07\ufe0f <a href=\"https:\/\/t.co\/KhnYh7ObAg\">pic.twitter.com\/KhnYh7ObAg<\/a><\/p>\n<p>\u2014 U.S. Department of Education (@usedgov) <a href=\"https:\/\/twitter.com\/usedgov\/status\/1679856787699245056?ref_src=twsrc%5Etfw\">July 14, 2023<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<p>The Department of Education <a href=\"https:\/\/www.ed.gov\/news\/press-releases\/biden-harris-administration-provide-804000-borrowers-39-billion-automatic-loan-forgiveness-result-fixes-income-driven-repayment-plans\">announced<\/a> on Friday that the relief will be provided through income-driven repayment plans. The Biden administration explained that the federal government will cancel any remaining balance for the borrower once they have made their payments for 20 or 25 years.<\/p>\n<p>The Department of Education said that any borrowers that will be eligible for the aid will be notified in the upcoming days.<\/p>\n<p>The new relief plan comes after the Supreme Court had <a rel=\"noreferrer noopener\" href=\"https:\/\/www.oann.com\/newsroom\/scotus-rules-on-student-loan-forgiveness\/\" target=\"_blank\">struck down<\/a> President Joe Biden\u2019s previous plan which would have given $10,000 in student debt relief to low- and middle-income borrowers, and up to $20,000 for Pell Grant recipients.<\/p>\n<p>On June 30, the court had ruled, 6-3, that federal law does not allow the president to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dozens-of-democrats-urge-biden-to-cancel-student-loan-debt-up-to-50000-per-borrower\/\" title=\"Dozens Of Democrats Urge Biden To Cancel Student Loan Debt Up To ,000 Per Borrower\">cancel federal student loan debt<\/a>, which was roughly around $430 billion. After the ruling, President Biden had <a href=\"https:\/\/www.oann.com\/newsroom\/biden-pursues-new-measures-for-student-loan-relief-after-supreme-court-snub\/\" target=\"_blank\" rel=\"noreferrer noopener\">announced<\/a> that he will be taking additional steps in order to circumvent the decision and be able to provide the relief.<\/p>\n<p>The new plan was based on the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.govinfo.gov\/content\/pkg\/COMPS-765\/pdf\/COMPS-765.pdf\" target=\"_blank\">Higher Education Act<\/a>, which the Biden administration argues allows the Secretary of Education to \u201ccompromise, waive or release\u201d student loan debt. U.S. Secretary of Education Miguel Cardona released a statement saying that the current administration is taking a \u201chistoric step\u201d by providing the aid.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cFor far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,\u201d Cardona said. \u201cToday, the Biden-Harris Administration is taking another historic step to right these wrongs and announcing $39 billion in debt relief for another 804,000 borrowers. By <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-39-billion-student-loan-forgiveness-for-over-800000-borrowers\/\" title=\"Biden unveils B student loan forgiveness for 800K+ borrowers.\">fixing past administrative failures<\/a>, 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.\u201d<\/p>\n<\/blockquote>\n<p>Vice President Kamala Harris said that the current administration is \u201ccommitted\u201d to providing the relief to borrowers.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cOur Administration will continue to fight to make sure Americans can <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-cancel-39-billion-in-student-debt\/\" title=\"Biden to erase B student debt.\">access high-quality postsecondary education<\/a> without taking on the burden of unmanageable student loan debt,\u201d the Vice President said in a statement.<\/p>\n<\/blockquote>\n<p>The administration will have to undergo a public comment period before they are able to implement the new plan.<\/p>\n<p>Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here.\u00a0<a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Dr. Shannon Kroner<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Jess Weber<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Professor Richard Werner<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Kevin Kiley<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>WASHINGTON (Reuters) \u2013 A U.S. federal court rejected the Federal Trade Commission\u2019s request that it order Microsoft to temporarily hold off on\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Sarita Chaganti Singh and Aditi Shah NEW DELHI (Reuters) -China\u2019s BYD Co has submitted a $1 billion investment proposal to build\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SEOUL (Reuters) \u2013 Tesla began selling its Model Y rear-wheel drive car on Friday in South Korea at a price of 56.99\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>KUALA LUMPUR (Reuters) \u2013 Malaysian Prime Minister Anwar Ibrahim said on Friday he held a call with billionaire Elon Musk to discuss\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>billion in student loan debt. President Biden, accompanied by Education Secretary Cardona, addressed the issue at the White House. This decision aims to alleviate the burden on borrowers.<\/p>\n","protected":false},"author":2062,"featured_media":1973005,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1973004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1973004","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\/2062"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1973004"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1973004\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1973005"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1973004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1973004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1973004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}