{"id":2382555,"date":"2024-12-21T08:30:04","date_gmt":"2024-12-21T13:30:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-cancellation-of-additional-4-28-billion-in-student-loans\/"},"modified":"2024-12-21T08:31:18","modified_gmt":"2024-12-21T13:31:18","slug":"biden-announces-cancellation-of-additional-4-28-billion-in-student-loans","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-cancellation-of-additional-4-28-billion-in-student-loans\/","title":{"rendered":"Biden Announces Cancellation of Additional $4.28 Billion in Student Loans"},"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\">20<\/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-cancellation-of-additional-4-28-billion-in-student-loans%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=2382555&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 announced over $4 billion in student debt cancellation for public service workers, benefiting around 55,000 individuals. This initiative is part of his\u2064 broader efforts to\u2064 support borrowers, which have included \u200dsignificant \u2062increases in\u2063 Pell Grants and reforms\u2063 to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-reasons-making-taxpayers-pay-off-student-loans-is-a-rotten-idea\/\" title=\"5 Reasons Making Taxpayers Pay Off Student Loans Is A Rotten Idea\">student loan programs<\/a> like public Service\u200d loan \u200bForgiveness. Since taking office,Biden has forgiven approximately $180 billion in student loans for nearly 4.9 \u2062million borrowers,more \u2064than any previous president. This latest cancellation follows a \u2064Supreme Court ruling that blocked a larger $400 billion debt relief \u200cplan last year. \u2063BidenS actions have faced criticism from republicans, who argue that they are politically motivated.  <\/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<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section> \t\t\t\t<script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><\/p>\n<p>President Joe Biden unveiled more than $4 billion in student debt cancellation Friday for those who work in public service, a move which comes weeks before his departure from the Oval Office.<\/p>\n<p>The latest student loan cancellation will impact 55,000 public service workers, Biden said in a statement from the <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2024\/12\/20\/statement-from-president-joe-biden-on-student-debt-cancellation-for-public-service-workers\/\" target=\"_blank\" rel=\"noopener\">White House<\/a> about the program.<\/p>\n<p>&ldquo;Over the last four years, we have made significant progress for students and borrowers, including securing the largest increase to the maximum Pell Grant award in over a decade,&rdquo; Biden commented.<\/p>\n<p>Biden said those actions also included &ldquo;holding institutions accountable for taking advantage of students&rdquo; as well as &ldquo;fixing broken student loan programs such as Public Service Loan Forgiveness and Income Driven Repayment.&rdquo;<\/p>\n<p>&ldquo;Because of our actions, millions of people across the country now have the breathing room to start businesses, save for retirement, and pursue life plans they had to put on hold because of the burden of student loan debt,&rdquo; the outgoing president added.<\/p>\n<p> <script type=\"text\/javascript\"> \t\t\tif ( getCookie( \"ff_subbed\" ) ) { \t\t\t\tdocument.getElementById(\"stnvideo\").remove() \t\t\t} \t\t<\/script> <\/p>\n<p>The latest round of debt cancellation will cost the federal government a total $4.28 billion.<\/p>\n<p>Biden, who unveiled the move as he entered the final month of his presidency, has <a href=\"https:\/\/amzn.to\/3YuVZYV\">announced similar student loan forgiveness moves<\/a> over the past few years.<\/p>\n<p>He has now nixed $180 billion in student loans for 4.9 million people, which is more debt than any of his predecessors in the Oval Office, according to a report from <a href=\"https:\/\/www.cnbc.com\/2024\/12\/20\/biden-forgives-4point28-billion-in-student-debt-for-54900-pslf-borrowers.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a>.<\/p>\n<p>Biden previously tried to do away with $400 billion in student loans, but the <a href=\"https:\/\/www.westernjournal.com\/scotus-rules-400b-student-debt-cancellation-plan-bad-news-biden\/\" target=\"_blank\" rel=\"noopener\">Supreme Court<\/a> ruled 6-3 last year against his plan.<\/p>\n<p>The majority said the attempt exceeded his constitutional authority.<\/p>\n<p>That debt cancellation program would have removed $10,000 in <a href=\"https:\/\/www.westernjournal.com\/gop-found-creative-way-block-bidens-student-loan-forgiveness-dems-join\/\" target=\"_blank\" rel=\"noopener\">student loans<\/a> for those making less than $125,000 or for households with less than $250,000 in income.<\/p>\n<p>Pell Grant recipients, who must show an elevated level of financial need, would have had an additional $10,000 in debt forgiven.<\/p>\n<p>Since the Supreme Court decision, Biden has been announcing smaller student debt cancellation packages.<\/p>\n<p>In April, for instance, the president said he would cancel <a href=\"https:\/\/www.westernjournal.com\/biden-gets-called-tone-deaf-announces-major-student-loan-cancellation\/\" target=\"_blank\" rel=\"noopener\">$7.4 billion<\/a> in student debt for 277,000 borrowers.<\/p>\n<p>The White House claimed that the move would &ldquo;reinforce the President&rsquo;s commitment to using every path available to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-judge-dismisses-lawsuit-challenging-bidens-student-loan-forgiveness-plan\/\" title=\"Judge dismisses lawsuit against Biden&#039;s student loan forgiveness plan.\">deliver student debt relief<\/a> to as many borrowers as possible through various actions.&rdquo;<\/p>\n<p>Republicans have usually been critical of those <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-announces-9-billion-more-in-student-debt-cancellation\/\" title=\"Biden unveils B extra for student debt relief.\">student debt cancellation efforts<\/a>.<\/p>\n<p>Among other concerns, they say Biden is seeking to buy votes and shore up support for himself and other Democrats.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\"> \t\t\t \t<\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> \t\t\t\t\t\t<label>* Name<\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"name\" required> \t\t\t\t\t<\/div>\n<div class=\"sc--field\"> \t\t\t\t\t\t<label>* <\/label> \t\t\t\t\t\t<br \/> \t\t\t\t\t\t<input type=\"text\" name=\"\" required> \t\t\t\t\t<\/div>\n<p> \t\t\t\t\t<label>* Message<\/label> \t\t\t\t\t<br \/> \t\t\t\t\t<textarea name=\"message\" required><\/textarea> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> \t\t\t\t\t<input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\"> \t\t\t\t\t \t\t\t\t\t<\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> \t\t<script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ]; 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This latest cancellation will benefit 55,000 individuals in public service, according to a White House statement<\/p>\n","protected":false},"author":1,"featured_media":2382556,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/12\/Picture-60.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[3620,35136,47212,47211,32783],"class_list":["post-2382555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-biden","tag-education-policy","tag-financial-relief","tag-loan-cancellation","tag-student-loans"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/12\/Picture-60.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2382555","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2382555"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2382555\/revisions"}],"predecessor-version":[{"id":2382559,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2382555\/revisions\/2382559"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2382556"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2382555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2382555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2382555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}