{"id":600247,"date":"2023-12-06T23:59:56","date_gmt":"2023-12-06T20:59:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-administration-discharges-additional-4-8-billion-in-student-debt-video\/"},"modified":"2023-12-06T23:59:56","modified_gmt":"2023-12-06T20:59:56","slug":"biden-administration-discharges-additional-4-8-billion-in-student-debt-video","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-administration-discharges-additional-4-8-billion-in-student-debt-video\/","title":{"rendered":"#Biden administration discharges additional $4.8 billion in student debt [Video]"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33e44df14cd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33e44df14cd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-administration-discharges-additional-4-8-billion-in-student-debt-video\/#PSLF_loan_discharge_for_military_and_certain_professions_in_public_service\" >PSLF loan discharge for military and certain professions in public service<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-administration-discharges-additional-4-8-billion-in-student-debt-video\/#One-time_payment_adjustment\" >One-time payment adjustment<\/a><\/li><\/ul><\/nav><\/div>\n<div>The Biden administration discharged another $4.8 billion in student loan debt for more than 80,000 borrowers, the Education Department announced Wednesday.<\/p>\n<p>That brings the total amount discharged since President Joe Biden took office to $132 billion for more than 3.6 million borrowers.<\/p>\n<p>The latest discharges include $2.6 billion for 34,400 borrowers using the public service loan forgiveness (PSLF) program and waiver and $2.2 billion for 46,000 borrowers under the <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/student-loan-borrowers-get-more-clarity-on-bidens-plan-to-adjust-payment-history-151434865.html\" data-ylk=\"slk:one-time payment adjustment for income-driven repayment;cpos:1;pos:1;elm:context_link;itc:0;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link rapid-noclick-resp yahoo-link\">one-time payment adjustment for income-driven repayment<\/a> plans.<\/p>\n<p><em>Read more: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/finance.yahoo.com\/personal-finance\/how-to-apply-for-idr-forgiveness-161706432.html\" data-ylk=\"slk:How to apply for IDR forgiveness;cpos:2;pos:1;elm:context_link;itc:0;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link rapid-noclick-resp yahoo-link\"><em>How to apply for IDR forgiveness<\/em><\/a><\/p>\n<p>&#8220;Before President Biden took office, it was virtually impossible for eligible borrowers to access the student debt relief they rightfully earned,&#8221; Miguel Cardona, secretary of Education, said in a <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:3;pos:1\" href=\"https:\/\/content.govdelivery.com\/accounts\/USED\/bulletins\/37e8f71\" data-ylk=\"slk:press statement;cpos:3;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\">press statement<\/a>. &#8220;The data released today once again make clear that the Biden-Harris Administration\u2019s relentless efforts to fix the broken student loan system are paying off in a big way\u2026This level of debt relief is unparalleled, and we have no intention of slowing down.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"PSLF_loan_discharge_for_military_and_certain_professions_in_public_service\"><\/span><strong>PSLF loan discharge for military and certain professions in public service<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Around 750,000 borrowers have received $53.5 billion in relief from the <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:4;pos:1\" href=\"https:\/\/www.ed.gov\/news\/press-releases\/fact-sheet-public-service-loan-forgiveness-pslf-program-overhaul\" data-ylk=\"slk:PSLF program;cpos:4;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\">PSLF program<\/a>, which includes the limited PSLF waiver that ended last October. Only about 7,000 borrowers had received forgiveness through these programs when the president took office.<\/p>\n<p>Teachers, nurses, doctors, lawyers, and other professionals who work in public service jobs with federal, state, local, or certain nonprofit organizations are eligible to have their remaining loan balances discharged after 10 years of payments through the PSLF program.<\/p>\n<p>PSLF is also available for military service members who don\u2019t qualify for other military loan forgiveness programs.<\/p>\n<p>The number of PSLF borrowers who got a discharge increased because of <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:5;pos:1\" href=\"https:\/\/www.aft.org\/news\/aft-settles-student-debt-lawsuit-wins-big-gains-borrowers\" data-ylk=\"slk:settlement;cpos:5;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\">settlement <\/a>of a lawsuit brought by the American Federation of Teachers (AFT) that offered a PSLF <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:6;pos:1\" href=\"https:\/\/studentaid.gov\/announcements-events\/pslf-limited-waiver\" data-ylk=\"slk:waiver;cpos:6;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\">waiver<\/a> allowing those denied loan forgiveness to re<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly by last October.<\/p>\n<p><em>Read more: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:7;pos:1\" href=\"https:\/\/finance.yahoo.com\/personal-finance\/how-to-apply-for-public-service-loan-forgiveness-163234590.html\" data-ylk=\"slk:How to apply for Public Service Loan Forgiveness;cpos:7;pos:1;elm:context_link;itc:0;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link rapid-noclick-resp yahoo-link\"><em>How to apply for Public Service Loan Forgiveness<\/em><\/a><\/p>\n<p>The AFT sued ED after more than <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:8;pos:1\" href=\"https:\/\/news.yahoo.com\/student-loan-forgiveness-program-public-195539391.html?fr=sycsrp_catchall\" data-ylk=\"slk:98%;cpos:8;pos:1;elm:context_link;itc:0;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link rapid-noclick-resp yahoo-link\">98%<\/a> of borrowers who applied for the PSLF program were denied loan forgiveness under Education Secretary Betsy DeVos during the Trump administration.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 828px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:67%\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"WASHINGTON, DC - JUNE 30: U.S. President Joe Biden is joined by Education Secretary Miguel Cardona as he announces new actions to protect borrowers after the Supreme Court struck down his student loan forgiveness plan in the Roosevelt Room at the White House on June 30, 2023 in Washington, DC. In a 6-to-3 decision, the court ruled the loan forgiveness program -- which was projected to help 40 million people and cost $400 billion -- was unconstitutional.  (Photo by Chip Somodevilla\/Getty Images)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/cJ0aCBAyK8uWmQY1fp2_Yw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD04Mjg-\/https:\/\/media.zenfs.com\/en\/aol_yahoo_finance_433\/ee4bd9e077677729f51acc13ccd820bf\"><noscript><img decoding=\"async\" alt=\"WASHINGTON, DC - JUNE 30: U.S. President Joe Biden is joined by Education Secretary Miguel Cardona as he announces new actions to protect borrowers after the Supreme Court struck down his student loan forgiveness plan in the Roosevelt Room at the White House on June 30, 2023 in Washington, DC. In a 6-to-3 decision, the court ruled the loan forgiveness program -- which was projected to help 40 million people and cost $400 billion -- was unconstitutional.  (Photo by Chip Somodevilla\/Getty Images)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/cJ0aCBAyK8uWmQY1fp2_Yw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD04Mjg-\/https:\/\/media.zenfs.com\/en\/aol_yahoo_finance_433\/ee4bd9e077677729f51acc13ccd820bf\" class=\"caas-img\"><\/noscript><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">President Biden is joined by Education Secretary Miguel Cardona as he announces new actions to protect borrowers on June 30 in Washington, D.C., after the Supreme Court struck down his student loan forgiveness plan. (Photo by Chip Somodevilla\/Getty Images)<span class=\"caption-credit\"> (Chip Somodevilla via Getty Images)<\/span><\/figcaption><\/p>\n<\/figure>\n<h2><span class=\"ez-toc-section\" id=\"One-time_payment_adjustment\"><\/span><strong>One-time payment adjustment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:9;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/student-loan-borrowers-get-more-clarity-on-bidens-plan-to-adjust-payment-history-151434865.html\" data-ylk=\"slk:one-time payment adjustment;cpos:9;pos:1;elm:context_link;itc:0;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link rapid-noclick-resp yahoo-link\">one-time payment adjustment<\/a> for income-driven repayment plans was announced last year and counts certain months that were previously ineligible for student loan forgiveness.<\/p>\n<p>The adjustment helps to reverse some of the damage caused by loan servicers that did not properly track deferments or <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:10;pos:1\" href=\"https:\/\/www.ed.gov\/news\/press-releases\/department-education-announces-actions-fix-longstanding-failures-student-loan-programs\" data-ylk=\"slk:steered;cpos:10;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\">steered<\/a> borrowers to forbearance instead of income-driven repayment plans that would have counted toward years of payment.<\/p>\n<p>Borrowers that were in repayment for 20-25 years started to see their debt discharged and received notices in <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:11;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/student-loans-one-time-payment-adjustment-of-39-billion-takes-center-stage-175455644.html\" data-ylk=\"slk:August;cpos:11;pos:1;elm:context_link;itc:0;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link rapid-noclick-resp yahoo-link\">August<\/a>. These discharges are still being processed. All other federal loan borrowers will see the one-time adjustment applied in 2024.<\/p>\n<p>In addition to relief given to PSLF borrowers and those benefiting from the one-time adjustment, almost 513,000 borrowers with a <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:12;pos:1\" href=\"https:\/\/studentaid.gov\/manage-loans\/forgiveness-cancellation\/disability-discharge\" data-ylk=\"slk:total and permanent disability;cpos:12;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\">total and permanent disability<\/a> received $11.7 billion in debt discharges and over 1.3 million borrowers who were defrauded by their schools received $22.5 billion in discharges under the <a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:13;pos:1\" href=\"https:\/\/studentaid.gov\/borrower-defense\/\" data-ylk=\"slk:borrower defense discharge;cpos:13;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\">borrower defense discharge<\/a>, according to the Education Department.<\/p>\n<p><em>Read more: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:14;pos:1\" href=\"https:\/\/finance.yahoo.com\/personal-finance\/when-do-student-loans-resume-203115948.html\" data-ylk=\"slk:Worried about when student loan repayments resume? These programs could help;cpos:14;pos:1;elm:context_link;itc:0;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link rapid-noclick-resp yahoo-link\"><em>Worried about when student loan repayments resume? These programs could help<\/em><\/a><em>.<\/em><\/p>\n<p><em>Ronda is a personal finance senior reporter for Yahoo Finance and attorney with experience in law, insurance, education, and government. Follow her on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:15;pos:1\" href=\"https:\/\/twitter.com\/WritesRonda\" data-ylk=\"slk:@writesronda;cpos:15;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>@writesronda<\/em><\/a><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:16;pos:1\" href=\"https:\/\/money.yahoo.com\/\" data-ylk=\"slk:Read the latest personal finance trends and news from Yahoo Money.;cpos:16;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>Read the latest personal finance trends and news from Yahoo Money.<\/em><\/a><\/p>\n<p><em>Follow Yahoo Finance on <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:17;pos:1\" href=\"https:\/\/twitter.com\/YahooFinance\" data-ylk=\"slk:Twitter;cpos:17;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>Twitter<\/em><\/a><em>, <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:18;pos:1\" href=\"https:\/\/www.instagram.com\/yahoofinance\/?hl=en\" data-ylk=\"slk:Instagram;cpos:18;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>Instagram<\/em><\/a><em>, <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:19;pos:1\" href=\"http:\/\/youtube.com\/c\/yahoofinance?sub_confirmation=1\" data-ylk=\"slk:YouTube;cpos:19;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>YouTube<\/em><\/a><em>, <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:20;pos:1\" href=\"https:\/\/www.facebook.com\/yahoofinance\/\" data-ylk=\"slk:Facebook;cpos:20;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>Facebook<\/em><\/a><em>, <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:21;pos:1\" href=\"https:\/\/flipboard.com\/topic\/yahoofinance\" data-ylk=\"slk:Flipboard;cpos:21;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>Flipboard<\/em><\/a><em>, and <\/em><a rel=\"nofollow noopener\" target=\"_blank\" data-i13n=\"cpos:22;pos:1\" href=\"https:\/\/www.linkedin.com\/company\/yahoo-finance\" data-ylk=\"slk:LinkedIn;cpos:22;pos:1;elm:context_link;itc:0\" class=\"link rapid-noclick-resp\"><em>LinkedIn<\/em><\/a><em>.<\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><script async defer src=\"https:\/\/platform.instagram.com\/en_US\/embeds.js\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.aol.com\/finance\/student-loans-biden-administration-discharges-205956192.html\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration discharged another $4.8 billion in student loan debt for more than 80,000 borrowers, the Education Department announced Wednesday. That brings the total amount discharged since President Joe Biden took office to $132 billion for more than 3.6 million borrowers. The latest discharges include $2.6 billion for 34,400 borrowers using the public service&#8230;<\/p>\n","protected":false},"author":1,"featured_media":600248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/aANeb1araRWcE3dSepTjAw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/media.zenfs.com\/en\/aol_yahoo_finance_433\/ee4bd9e077677729f51acc13ccd820bf","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-600247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/600247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=600247"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/600247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/600248"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=600247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=600247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=600247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}