Biden’s USD 4.28B Loan Forgiveness Shocks Nation—5 million Borrowers Benefit! 

United States: The Biden administration has already announced USD 4.28 billion in student loan forgiveness for almost about 54,900 public workers, like teachers, nurses, and also including some first responders and also this is part of a promise which has been made four years ago to fix the Public Service Loan Forgiveness Program. 

Secretary of Education Miguel Cardona said, “We delivered on our pledge to help America’s public servants.” The action takes the total loan forgiveness that has been granted by Biden to nearly USD 180 billion for nearly 5 million borrowers. 

As reported by the Fox News, speaking at the news conference, Cardona said, “With another USD4.28 billion in loan forgiveness for almost 55,000 public servants, the administration has gotten almost USD 180 billion in student debt relief for almost five million borrowers,”.  

Here, we see the successful reinvention of the PSLF Program by the U.S. Department of Education – something that has been made possible solely due to the relentless and unapologetic pro-Working-Class nature of our current administration, President Biden and Vice President Harris.  

The Biden-Harris administration promoted the program for the goal of serving as an ‘entice’ for public officials to “continue” and “clinch” in those career fields established after the borrowers completed the 120 qualifying monthly payments as well as the forgiveness of the balance. 

‘The relief announced today includes the borrowers who took advantage of the limited PSLF waiver from the Administration, a temporary window that closed in October this year as well as borrowers who stood to benefit from some programmatic changes made to PSLF in this Administration,’ the release stated. 

The funds are student loans that Biden promised to wipe off for millions of Americans in case he wins the presidency during his campaign in 2020, but the president has come under considerable legal pressure in his bid to wipe off hundreds of billions out of debt. 

I have never seen a president and his team, after the Supreme Court struck down the first move by the Biden administration to offer wide ranging student loan cancellation hoping for extraconstitutional powers under the Constitution, scramble for another way to offer handouts. 

What exactly elected President-elect Trump for the Biden administration’s student loan handout plan, he has admitted that he will overhaul the entire education system during his tenure.