Biden Administration Cancels $39 Billion In Student Debt
July 14, 2023 9:46AM CDT
WILMINGTON, DE - DECEMBER 28: President-elect Joe Biden delivers remarks at the Queen Theater on December 28, 2020 in Wilmington, Delaware. Biden will be inaugurated as the 46th president in a scaled-down ceremony in Washington D.C. due to the coronavirus (COVID-19) pandemic on January 20, 2021. (Photo by Mark Makela/Getty Images)
President Biden is moving forward with another plan to cancel student debt.
On Friday, the Biden Administration announced that it would cancel $39 billion in debt from more than 800,000 borrowers, who will be notified in the coming weeks.
The announcement comes two weeks after the Supreme Court struck down Biden’s plan to forgive student debt for more than 3.4 million borrowers.
Education Secretary Miguel Cardona promised “This Administration will not stop fighting to level the playing field in higher education.”
