{"id":2250084,"date":"2024-05-22T05:15:02","date_gmt":"2024-05-22T09:15:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-another-7-7-billion-in-student-loan-cancellation\/"},"modified":"2024-05-22T05:19:10","modified_gmt":"2024-05-22T09:19:10","slug":"biden-announces-another-7-7-billion-in-student-loan-cancellation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-another-7-7-billion-in-student-loan-cancellation\/","title":{"rendered":"Biden unveils $7.7 billion student loan forgiveness"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/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-announces-another-7-7-billion-in-student-loan-cancellation%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=2250084&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>President Joe Biden announces $7.7 billion\u2063 in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-push-for-student-debt-forgiveness-would-cost-taxpayers-millions\/\" title=\"Democrats push for student debt forgiveness, would cost taxpayers millions\">student loan forgiveness<\/a>, benefiting those with\u2064 an average debt of\u2062 $35,000. The\u200c administration is canceling debt for 160,000 individuals,\u200d totaling \u20624.75 million relieved Americans. The \u2064relief targets borrowers under the Department of Education&#8217;s initiative, as Biden&#8217;s commitment to\u2064 easing student debt continues. President\u200d Joe Biden has unveiled a $7.7 billion student loan forgiveness\u2063 program, providing relief to individuals with an average debt of $35,000. The \u2062administration&#8217;s initiative will cancel the\u200b debts of 160,000 borrowers, adding up to \u20634.75 million Americans benefiting \u2063from the relief efforts.\u200c This relief specifically targets borrowers enrolled in \u200dthe Department of Education&#8217;s program, demonstrating\u2063 Biden&#8217;s ongoing dedication to alleviating student debt.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p>President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noopener\" title=\"Joe Biden\">Joe Biden<\/a> has announced another $7.7 billion in <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/student-loans\/\" target=\"_blank\" rel=\"noopener\" title=\"Joe Biden\">student loans<\/a> will not need to be repaid, with those who stand to benefit having an average of $35,000 in debt written off.<\/p>\n<p>\u201cToday, <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/biden-administration\/\" target=\"_blank\" rel=\"noopener\" title=\"my administration\">my administration<\/a> is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-silent-on-memo-to-cancel-student-debt\/\" title=\"Biden Silent on Memo to Cancel Student Debt\">canceling student debt<\/a> for 160,000 more people, bringing the total number of Americans who have benefitted from our debt relief actions to 4.75 million,\u201d Biden said in a prepared statement. <\/p>\n<p>The president said the new round is for loanees enrolled in the Department of Education\u2019s new <a href=\"https:\/\/www.washingtonexaminer.com\/news\/2792210\/education-department-student-loan-cancellation-plan\/\" target=\"_blank\" rel=\"noopener\" title=\"SAVE Plan\">SAVE Plan<\/a>, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-infrastructure-plan-a-boon-for-unions\/\" title=\"Biden\u2019s Infrastructure Plan a Boon for Unions\">public service workers<\/a> such as teachers, nurses, and police officers, or people who had loans canceled due to what the administration describes as \u201cfixes\u201d to existing income-driven repayment plans.<\/p>\n<p>It\u2019s part of a labyrinth of various moves Biden has made toward canceling student loans before the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/2024-elections\/\" target=\"_blank\" rel=\"noopener\" title=\"2024 election\">2024 election<\/a>. The nonpartisan Committee for a Responsible Federal Budget <a href=\"https:\/\/www.crfb.org\/blogs\/total-cost-student-debt-cancellation\" target=\"_blank\" rel=\"noopener\" title=\"2024 election\">estimates<\/a> the combined total cost to taxpayers could reach $1.4 trillion, with GOP-led states launching <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/2942016\/kansas-attorney-general-will-sue-biden-administration-over-student-loans\/\" target=\"_blank\" rel=\"noopener\" title=\"lawsuits\">lawsuits<\/a> claiming the president has no legal authority to spend money without Congress.<\/p>\n<p>But Biden sees the moves as a win for younger voters who attended college, who represent a major constituency in his reelection bid. He says canceling student loans will allow them to buy a home, start a business, or raise a family.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>\u201cLast month, I laid out my administration\u2019s new plans that would <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sen-schumer-pushes-for-student-loan-forgiveness\/\" title=\"Sen. Schumer pushes for student loan forgiveness\">cancel student debt<\/a> for more than 30 million Americans when combined with everything we\u2019ve done so far,\u201d he said. <\/p>\n<p>\u201cFrom day one of my administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity,\u201d Biden continued. \u201cI will never stop working to cancel student debt \u2014 no matter how many times Republican elected officials try to stop us.\u201d<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden revealed a $7.7 billion student loan relief plan, erasing an average of $35,000 in debt for 160,000 individuals. This initiative adds to the administration&#8217;s efforts in providing debt relief to Americans burdened by student loans<\/p>\n","protected":false},"author":2635,"featured_media":2250085,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP24099688615684.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2250084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/AP24099688615684.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2250084","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\/2635"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2250084"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2250084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2250085"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2250084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2250084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2250084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}