The Biden administration canceled $1.5 billion in student loan debt دي

The Department of Education announced an additional $55.6 million in student loan debt cancellation Friday, the Biden administration has now written off $1.5 billion in student loan debt, and the Department of Education has canceled an additional $55.6 million in student loan debt for 1,800 students who were victims of a for-profit college fraud, This brings the total amount of student loan debt canceled by the Biden administration to $1.5 billion. “Today’s announcement continues the U.S. Department of Education’s commitment to defending the students whose colleges have benefited,” Miguel Cardona, Education Secretary, said in the department’s statement released Friday. The most recent loan cancellation is for students who attended Westwood College, Marinello Beauty Schools and the Court Reporting Institute. This is the first time that the department has agreed to exempt students who have attended schools other than Corinthian. Colleges, Technical Institute ITT, American Institute of Jobs Since 2017 e:64 Democrats Call on Biden to Extend Student Loan Repayment “Today’s work continues in the Biden administration’s efforts to ensure that Borrower Defense and other targeted loan cancellation, forgiveness, and layoff programs provide relief to students and borrowers”, It was stated in the ministry’s statement. Borrower Defense is a federal regulation by the Department of Education that allows federal student borrowers the opportunity to obtain forgiveness on their loans if they are defrauded by a college or university. With an additional 1,800 students, the Biden administration canceled student loans for nearly 92,000 people. The $1.5 billion in canceled loan debt is an effort by the Biden administration to address the backlog of forgiveness claims left by the previous administration. “The Department will continue to play its role in quickly and fairly reviewing and approving borrower defense claims so that borrowers get the relief they need and deserve. We also hope that these approvals will serve as a warning to any institution engaging in similar behavior that this type of misrepresentation is unacceptable,” Cardona added. More: Joe Biden wants to provide millions of Americans with high-speed internet. It won’t be easy. Some Democrats are pushing for a larger and broader student loan forgiveness. More than 60 Democrats sent Biden a letter on June 23, urging him to extend the moratorium on payments and interest on federal student loans, noting that the pause provided significant relief to borrowers. families during the pandemic and would be a “big challenge” if it ended. Democrats have also previously asked Biden to commit $50,000 in student loan forgiveness to each borrower, something he said he wouldn’t do, indicating that he would prefer investing the money in early childhood education. “Will it be forgiven, rather than using this money to provide money for early education for young children who come from disadvantaged circumstances?” Biden said CNN City Hall.