Student loan payments are slated to resume this month after President Biden’s 3-year pause due to the COVID pandemic. Since he’s up for Re-election, he’s doing all that he can to make good on his promise for student debt relief by announcing that more relief is on the way!
“When I took office, the Public Service Loan Forgiveness program had been in place for nearly 15 years, but because of red tape, only 7,000 borrowers had been helped,” Biden tweeted Thursday.
“Thanks to our reforms, 715,000 borrowers have now had their debts forgiven.” 125,000 more borrowers will receive about $9 billion in debt relief. 3.6 million people will have been positively impacted by Biden’s plan since he took office.
@APNews reports, “The Democratic president’s latest step will help 125,000 borrowers by erasing $9 billion in debt through existing programs. In total, 3.6 million borrowers will have had $127 billion in debt wiped out since Biden took office.”
The NAACP is also urging President Biden to expand debt forgiveness by allowing Parent PLUS loans, which will allow parents to get relief for their children’s college education. That way, they will be eligible for the SAVE Plan which lowers payments based on borrowers’ income.
Have any of y’all been blessed by this initiative yet? 👀 #BWLM💕
