{"id":582751,"date":"2023-07-14T15:55:43","date_gmt":"2023-07-14T12:55:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-administration-announces-39-billion-in-student-debt-relief-for-804000-borrowers\/"},"modified":"2023-07-14T15:55:43","modified_gmt":"2023-07-14T12:55:43","slug":"biden-administration-announces-39-billion-in-student-debt-relief-for-804000-borrowers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-administration-announces-39-billion-in-student-debt-relief-for-804000-borrowers\/","title":{"rendered":"#Biden administration announces $39 billion in student debt relief for 804,000 borrowers"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/07\/AP23187681261759-e1688684302332.jpg?w=900\" \/><\/p>\n<div>\n<p>The Biden administration has announced that it will provide $39 billion in total student debt relief for 804,000 borrowers, its latest step since President Biden\u2019s student loan forgiveness plan was struck down by the Supreme Court.\u00a0<\/p>\n<p>The Education Department said Friday the relief is being provided on income-driven repayment plans, in which the federal government cancels remaining balances for the borrower after they have made their payments for 20 or 25 years.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>The department said the \u201cfixes\u201d will more accurately count monthly payments that qualify under the plans, and it will notify borrowers who are eligible for the relief in the upcoming days.\u00a0<\/p>\n<p>The Supreme Court struck down Biden\u2019s plan to give $10,000 of student debt relief to low- and middle-income borrowers and up to $20,000 for Pell Grant recipients in a 6-3 decision last month. The majority found Congress had not directly authorized the president to forgive debts worth hundreds of billions of dollars.\u00a0<\/p>\n<p>Biden announced after the decision that his administration would continue to work to provide student debt relief despite the court\u2019s ruling. He said he would base his debt relief plan on a different law, the Higher Education Act, which proponents argue allows the education secretary to \u201ccompromise, waive or release\u201d student loan debt.\u00a0<\/p>\n<p>The administration must undergo a public comment period before the plan can go into effect, delaying its potential implementation.\u00a0<\/p>\n<p>The Hill has reached out to the White House for comment on Friday\u2019s announcement. <\/p>\n<p>Vice President Harris said in a statement that she and Biden are \u201ccommitted\u201d to providing relief to student borrowers.<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\"><\/aside>\n<p>\u201cOur Administration will continue to fight to make sure Americans can access high-quality postsecondary education without taking on the burden of\u00a0unmanageable\u00a0student loan debt,\u201d she said.<\/p>\n<p>Harris said many of the borrowers eligible for the relief were placed in forbearance by loan servicers against the rules of the payment plan, and others did not receive credit for monthly payments they made.<\/p>\n<p>\u201cFor far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,\u201d Education Secretary Miguel Cardona said in a statement.<\/p>\n<aside class=\"ad-unit ad-unit--mr3_ab\"><\/aside>\n<p>The relief is being provided as part of an adjustment that <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studentaid.gov\/announcements-events\/idr-account-adjustment?utm_content=&amp;utm_medium=email&amp;utm_name=&amp;utm_source=govdelivery&amp;utm_term=\">the administration announced<\/a> in April 2022.<\/p>\n<p>Cardona said the plan will ensure everyone receives the forgiveness they deserve in addressing \u201cpast administrative failures.\u201d<\/p>\n<p><em>Updated at 9:28 a.m.<\/em><\/p>\n<\/div>\n<p>Copyright 2023 Nexstar <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a> Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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