(THE HILL)- Joe Biden administration announced its final round of student loan forgiveness, totaling over $600 million for approximately 4,550 borrowers under the Income-Based Repayment plan and 4,100 DeVry University alumni.
Some years ago, president Joe Biden, made a promise to fix a broken student loan system, stating that existing program that has failed to deliver will be fixed and promised to take action on behalf of the borrowers who has said to be cheated by their institution and brings about financial breathing atmosphere to hard working Americans, including the public servants and disable borrowers.
This brings the total debt relief during Biden’s presidency to about $188.8 billion for 5.3 million borrowers. The Secretary of Education, in the person of Miguel Cardona, make mention of the relentless effort, in which millions of America are approved for student loan relief.
The announcement follows a Supreme Court decision that halted broader forgiveness efforts in 2023, marking a significant conclusion to Biden’s student debt relief initiatives.
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