... [+]The Biden administration announced on Thursday that it will be automatically wiping out the federal student loan debt for 323,000 borrowers.
The administration will be cancelling borrowers’ federal student loan debt through the Total and Permanent Disability discharge program. The TPD Discharge program allows student loan borrowers who are unable to maintain substantial, gainful employment due to a physical or psychological medical impairment to get their federal student loans cancelled.
Advocates have long argued that the Department of Education has the ability and the authority to automatically grant TPD Discharges to disabled student loan borrowers who are receiving disability benefits through Social Security . The Social Security Administration had previously identified hundreds of thousands of disabled student loan borrowers who would qualify for TPD discharges, and the agency has shared that information with the Department of Education, but the Department had not acted.
On Thursday, that finally changed, and the Department of Education will move forward in automatically discharging approximately $5.8 billion in federal student loans for disabled borrowers identified by the Social Security Administration as eligible. Secretary of Education Miguel Cardona characterized the action as"in alignment with our strategies from day one to put our borrowers at the center of the conversation...
The move follows additional efforts by the Biden administration to expand federal student loan forgiveness under existing programs, including recently
El diablo.
5.8 billion is a BLT of a number
This was something that was already a law. The Biden administration did not do this. The Department of Education finally is following the law that was put in place awhile ago, before Biden.
This a discrimination. Nothing less & should be stopped.
Hello moral hazard. Let's teach kids its ok to get into debt, someone will be there to bail you out if you can't get As in school and don't get a job. Will we then bail out their loans for their mercedes and corvettes they can't pay for now?
I want my student loan cancelled. Where is my stimulus.
Excelente iniciativa , y la educacion deberia ser mas educacion y no un negocio como es actualmente
Hi
Liar
It’s always the same with this guy. Just give it away and bail everyone out.
Siacoin soon $10
sc soon $6
RT : Biden to automatically cancel $5.8 billion in student loans for over 300,000 borrowers
Talibanisation of USA
Sucks to be one of the less than the 300000
I am a nurse and I worked through this whole damn pandemic without any extra compensation from the government or state. The only thing I received from this glorious mess was being exposed to Covid from people acting stupid. It would be nice if my student loans were forgiven.
Do u have to take the vaccine? 🤣
CancelStudentDebt AOC SenAlexPadilla POTUS VP SenSchumer ewarren SpeakerPelosi IlhanMN RepPressley RepJayapal CongressmanRaja RepAdamSchiff
Where's my letter 🙏
POTUS at least make them pick up trash and clean something for their loans to be paid off. Have them do service hours for forgiveness of debt. At least our tax dollars will do something.
Susan Rice and Biden forgot Afghanistan & were dancing with the terrorist tplf
Fool and our money are soon parted.
That's great, Joe, but you also cancelled freedom for the Afghans, by allowing a bunch of scruffy bandits to take over Afghanistan.
Everyone one else will pay their debt.
Mistake.
It's called passing the costs onto taxpayers.
How many more times will forbes post this story to distract from reality?
Keep that money printing press rolling Joe
Hello WilliamsRuto make this one of your 2022 election agenda na hawa watu wakusema sijui 'tax free period', watakosa namna.. Naona wafuata bottom up approach na JoeBiden amekubali lu camcel student debt, usiwachwe nyuma.. Helb loans zinafunga watu wengi man
He’s racist that only 300k got it. What about everyone else?
Really? Did his staff tell him they were going to do this?
Hi everyone! Excuse me... Our President Jair Bolsonaro! 👇
And if you just finished paying yours off..
Is it a good news for tax payers？
Awesome news. But i kinda wonder if this 'Khumba yah' leadership will not hurt the US in the long run.
4 th time you tweet this
Yup, joebiden is good at that; Taxing n spending By the time Biden is done wrecking America!! A student loan is like any lending agreement. A party extends credit to a borrower Asking borrowers not to repay loans makes no sense Reschedule, renegotiate is OK but write off?!
May or may not be a good idea. But though it may seem quaint now, it would be nice if we could get back to the idea of the pres AND the Congress having a say on the expenditure of this amount of money.
Great move but he seems without appeal for people
ok very nice, but we still remember Afghanistan
And what do the people that couldn't afford to goto college get?
USA is finished.
ITS CALLED THEFT from those who haven't even started college
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You know that number is pennies
Hope he refunds the diligent payers too - justice and all.
Who cares
good
This is the 4th time you've tweeted this. What gives?! Why keep repeating the same misleading headline? Every time you keep leaving out that this only applies to disable people that can't get a job. So before anyone rages over this - IT ONLY APPLIES TO DISABLE PEOPLE
He should help out the people that work during the whole pandemic by giving back 100% of our taxes that we paid also .