The announcement is the latest in a series of loan forgiveness actions by the administration after the Supreme Court last year struck down Biden's much broader plan.

The announcement is the latest in a series of loan forgiveness actions by the administration after the Supreme Court last year struck down Biden’s much broader plan.

In a new wave of student loan forgiveness, the Biden administration is canceling $5 billion in debt for 74,000 borrowers, many of whom worked in public sector jobs for more than a decade.

President Joe Biden said that 44,000 of Friday’s approved borrowers were having their education debt wiped clean after 10 years of public service, and that those borrowers included teachers, nurses and firefighters. Nearly 30,000 borrowers have worked toward repayment for at least 20 years but “never got the relief they earned through income-driven repayment plans,” Biden said in a statement.

It’s the latest round of loan forgiveness efforts after the Supreme Court struck down the White House’s student loan debt relief plan last year. Since the ruling, the White House has launched a series of smaller relief programs.

  • naught@sh.itjust.works
    10·
    5 months ago

    Honestly an interesting take. The executive has steadily ballooned in its power over the years. Personally I’m glad Biden has the power to at least do this, but would I be happy with Trump or another bad actor having similar latitude in other areas? Tough questions. Of course, these are the same tough questions of checks and balances and federalism that we have been debating since the founding.

    • No1@lemmy.world
      21·
      5 months ago

      That’s exactly it. Everyone cheers it when it’s their guy, without realizing that a relatively weak executive branch is one of the best safeguards we have against tyranny. Expanding that power sounds great for now, but if Trump takes office again, do we want him having the power to spend on whatever he wants without congressional approval?