Biden announces more student debt relief as payments resume after pandemic pause
1 year, 3 months ago

Biden announces more student debt relief as payments resume after pandemic pause

LA Times  

President Biden announced another round of federal student loan forgiveness on Wednesday as borrowers brace for payments to restart after a three-year pause that began during the COVID-19 pandemic. The president has been relying on a patchwork of different programs to chip away at debt, such as public service loan forgiveness and the SAVE plan — Saving on a Valuable Education — which lowers payments by tying them to borrowers’ income. “For years, millions of eligible borrowers were unable to access the student debt relief they qualified for, but that’s all changed thanks to President Biden and this administration’s relentless efforts to fix the broken student loan system,” Education Secretary Miguel Cardona said in a statement. In addition, the NAACP is pushing Biden to expand debt forgiveness by allowing Parent PLUS loans, which parents use for their children’s college education, to be eligible for the SAVE plan.

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