News about Biden, student loan

Even though extremists on the Supreme Court have stood in the way of student debt cancelation, President Biden is still finding ways to deliver relief to millions of Americans. www.washingtonpost.com/education/2024/04/12/biden-student-loan-forgiveness-update-save-pslf/

We’re proposing a new rule to cancel the student debt of Americans facing financial hardships – from child care to health care – that prevent them from paying back their loans.

Under our new proposal, if you owe more now than when you first started paying your student loans, we would cancel up to $20,000 in runaway interest. And for low- and middle-class families enrolled in my SAVE plan, we would cancel all of your interest.

While young people are widely affected by student debt and many see the student debt crisis as a “young American” issue, seniors are actually the fastest-growing group of borrowers in our country. pic.twitter.com/Oyr3O0qRN3