Biden administration announces new student loan cancellations
Time:2024-05-21 13:41:09 Source:businessViews(143)
WASHINGTON (AP) — The Biden administration is canceling student loans for another 206,000 borrowers as part of a new repayment plan that offers a faster route to forgiveness.
The Education Department announced the latest round of cancellations Friday in an update on the progress of its SAVE Plan. More people are becoming eligible for student loan cancellation as they hit 10 years of payments, a new finish line for some loans that’s a decade sooner than what borrowers faced in the past.
Casting a shadow over the cancellations, however, are two new lawsuits challenging the plan’s legality. Two groups of Republican-led states, fronted by Kansas and Missouri, recently filed federal suits arguing that the Biden administration overstepped its authority in creating the repayment option.
“From 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,” President Joe Biden said in a statement. “I will never stop working to cancel student debt — no matter how many times Republican elected officials try to stop us.”
Previous:Liverpool confirms Arne Slot as Jurgen Klopp's replacement
Next:Russian theater director and playwright go on trial over a play authorities say justifies terrorism
You may also like
- Mohammad Mokhber: Who is Iran’s acting president?
- Overeager Rockies fan nearly costs his team a victory by getting called for interference on a would
- The culinary game at MLB ballparks has exploded in the past 20 years. Eating healthy is a challenge
- In Myanmar, paying bribes to evade the draft — Radio Free Asia
- Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
- Taylor Swift's Fortnight music video reunites Dead Poets Society stars Ethan Hawke and Josh Charles
- Nets hire Jordi Fernandez as coach. Fernandez was Kings' associate head coach for two years
- Biden calls Trump unfit to lead the military and is off on details of uncle's death
- Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored