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On HBO's Last Week Tonight, John Oliver discussed student loans and how President Biden has provided more student loan debt relief than any president in history.
Oliver said:
I have some good news because while the Supreme Court has struck down Biden's massive $400 billion plan, he has managed to achieve other meaningful solutions by making changes to existing programs under his administration. They have forgiven approximately $12 billion in loans for borrowers with disabilities and $56 billion in loans for approximately 800,000 borrowers through adjustments to the Public Service Loan Forgiveness Program, which is significant for those who would benefit from it.
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Look, if you personally have student loans it's worth knowing that this administration is currently offering a new version of the Income Driven Repayment to Savings Plan that looks promising. This lowers eligibility requirements and ensures that anyone borrowing less than $12,000 will have their debt wiped out after 10 years of payments. You can go to this website to see if you are eligible and how much it can save you, and I am not saying it is perfect for a beginner, it has to be administered properly and remember that these (__ ) are still involved, but in its first few months alone the SECURE plan has provided a total of $1.2 billion in relief to 150,000 borrowers.
In fact, if you look at everything the Biden administration has done, they have managed to provide $138 billion in student loan relief to 3.9 million people in just 3 years. This is more than any president in history. And look, I know we're talking about band-aid solutions here, even if we got rid of all the problems that surface, people wouldn't have a huge pile of outstanding debt and if we got rid of Even if you get it, it won't be right. The main problem is that the cost of college in this country is ridiculous.
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Biden is attacking Republicans for his or her hypocritical opposition to pupil mortgage forgiveness, and he continues to forgive billions of pupil loans.
President Biden's dedication to pupil mortgage forgiveness has been historic, and if he doesn't win re-election, it’s going to all go away. Trump is already on file opposing pupil mortgage reduction, and a few MAGAs have questioned whether or not Trump may reinstate forgiven loans. Nonetheless, this might end in large authorized challenges that will take years to resolve.
Biden is able to doing much more in a second time period, and he deserves credit score for not giving up and delivering for therefore lots of the nation's pupil debtors.
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Jason is the managing editor. He’s additionally a member of the White Home Press Pool and Congressional Correspondent for PoliticsUSA. Jason has a bachelor's diploma in political science. His graduate work targeted on public coverage with a specialization in social reform actions.
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Member of the Society of Skilled Journalists and the American Political Science Affiliation