Biden cancels $72 million in student loan debt for borrowers who went to for-profit Ashford University | CNN Politics
Even though President Joe Biden’s student loan forgiveness program was blocked by the Supreme Court earlier this year, his administration is moving forward with more targeted student debt cancellations allowed under existing programs.
The administration is not exactly canceling debt, they're taking credit for existing programs, and expanding existing programs of debt relief.
This article is basically PR for democrat voters. The sweeping changes were shot down, but now the administration can say it tried, when they knew all along there wasn't going to be "$420 billion [relief] for tens of millions of borrowers."
Yes
This is exactly what's happening. They're following existing law. In the past student loan servicers were supposed to keep track of this stuff, and cancel loans when certain terms are met, such as all ontime payments for 20 years. They just haven't been doing that, and now the administration is making them do that to score political points with their base.
I'm a little sad this comment is not higher.
good dig/analysis
Yep…. Personally I remain unconvinced that they are even doing much of anything I bet most people still will not have terms honored and it will be hard to prove how many were “helped”