Under YUGE political pressure from his base and those dreading skyhigh repayments starting in October?
A Second effort…….
Offering a lifeline politicaly and economically…..
That could affect up to 800,000 Americans ….
There WILL be efforts against this by some for sure….
It is based on past mistakes made on long term repayment’s from student loan borrowers….
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress toward forgiveness,” Education Secretary Miguel Cardona said in a statement Friday. “By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve,” he said.
Friday’s announcement drew criticism from some Republicans since it comes two weeks after the Supreme Court rejected a broader plan by the Biden administration to forgive more than $400 billion in federal student loan debt. That plan would have erased up to $20,000 in federal student debt for tens of millions of borrowers meeting certain income limits. The administration argued that the Higher Education Relief Opportunities for Students Act of 2003 gave the department authority to forgive debt. But critics argued that the plan burdened taxpayers with other peoples’ unpaid debt, and said the effort was an attempt to find loopholes in the legislation to push through sweeping changes that Congress would be unlikely to pass….