Search
Press "Enter" to search and "ESC" to close.

President Biden forgives debt for 150,000 more students

2025-01-15T12:00:57+00:00
Suscríbete a Nuestro Boletín
Recibe por email las noticias más destacadas
Joe Biden deuda estudiantil, condonación préstamos estudiantes 2025, educación, President Biden Forgives Student Debt, student loan forgiveness 2025, education, MundoNOW
President Biden forgives student debt. Photo: Shutterstock
  • President Biden Forgives Student Debt.
  • Biden: Over 5 Million Beneficiaries.
  • Higher Education: Promises Fulfilled.

The outgoing President of the United States, Joe Biden, announced on Monday the decision to forgive the university debt of an additional 150,000 people.

This brings the total number of Americans benefited by his administration in this regard to over 5 million.

Among these 150,000 now fortunate debtors are 85,000 individuals who attended schools, colleges, or university centers and were «misled» by their payment and interest systems.

Additionally, 61,000 people with a «total or permanent» inability to pay their loans; and 6,100 public officials.

PRESIDENT BIDEN FORGIVES STUDENT DEBT

President Biden Forgives Student Debt, student loan forgiveness 2025, education, MundoNOW
President Biden Forgives Student Debt – Photo: Shutterstock

Specifically, this forgiveness includes $1.25 billion for students defrauded.

Also, $2.5 billion for those who lacked the resources to make payments; and $465 million for public workers.

You might be interested in: Trump considers declaring a national economic emergency to implement tariffs

«My Administration has taken historic steps to reduce the burden of student debt.»

«To hold bad actors accountable and to fight on behalf of students across the country,» Biden stated in a statement distributed today by the White House.

Joe Biden’s Historical Commitment to Education

Since Biden took office four years ago, he has forgiven the debt of over 5 million people with federal student loans, totaling $183.6 billion.

«On the first day of my administration, I promised to ensure that higher education is a ticket to the middle class, not a barrier to opportunities.»

«And I am proud to say that we have forgiven more student loan debt than any other Administration in history,» added Biden.

In 2023, the U.S. Supreme Court blocked the Democratic plan to grant large-scale forgiveness of student loans to tens of millions of borrowers.

Obstacles and Solutions

However, Biden managed to eliminate a significant portion of the country’s outstanding student debt.

This by improving the existing debt relief programs of the U.S. Department of Education.

Interest rates on federal student loans exceed 8%, and there are over 25 million borrowers with debt exceeding the total amount borrowed.

*WITH INFORMATION FROM EFE.

To listen to the podcast of this and other news click on the photo

Podcast, News, Your World Today, Hear Us Audio, MundoNOW
Photo: MundoNOW.

Follow MundoNow on Google News and scroll through your favorite content faster!
The Latest
National
Related post
Regresar al Inicio