Biden administration agrees to cancel another $6 billion in student loan debt for defrauded borrowers

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The Biden administration has agreed to cancel an estimated $6 billion in federal student loan debt for about 200,000 borrowers who have claimed they were defrauded by their college.

Washington

The administration had previously approved $25 billion in loan forgiveness for 1.3 million borrowers. Around 43 million Americans have federal student loan debt.Many of the borrowers affected by the new agreement have been waiting years for the Department of Education to process their claims under a rule known as borrower defense to repayment.

 

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POTUS go ahead and cancel all the Student Debt. Republicans gave the rich 2 Trillion and Hundreds of Billions in Covid Relief and they didn't need it and nobody complained. Dems be Bold Unapologetic and make this happen for the students and No Means Testing OK!!!

How were they defrauded? A college degree does not guarantee anything after graduation.

College grads will make a Million more than non grads in their lifetime, why make everyone else pay for those who do not want to pay their own debt? Colleges are way overpriced due to essentially a monopoly

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