Biden Cancels $6B In Student Debt For 78,000 Public Service Workers
Mar 21, 2024 19:33:02 #
President Joe Biden announced on Thursday that the White House approved the cancellation of $6 billion in federal student debt for “thousands of public service workers.”
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The 78,000 eligible public service workers include nurses, teachers, and firefighters, according to the White House.
“These public service workers have dedicated their careers to serving their communities, but because of past administrative failures, never got the relief they were entitled to under the law,” Biden said in a statement touting the move.
“From day one of my Administration, I promised to fix broken student loan programs and make sure higher education is a ticket to the middle class, not a barrier to opportunity,” Biden continued. “I won’t back down from using every tool at my disposal to deliver student debt relief to more Americans, and build an economy from the middle out and bottom up.”
Meanwhile, as of June 2023, almost 43.4 million U.S. student loan recipients had $1.63 trillion in outstanding loans, according to the Federal Student Aid website.
This comes after the Biden administration canceled almost $5 billion in debt for 74,000 public-sector borrowers.
Overall, the White House has approved $144 billion in federal loan forgiveness for about 4 million borrowers in total, according to the Biden administration.
MY COMMENT: Keep in mind that out country has a $34 billion national debt, with another $2 Billion annual deficit projected for this fiscal year. We have a congress that refuses to do it's job and take up individual appropriation bills and instead resorts to continuing resolutions and minibus bills that no member of congress reads before passing. Oh, and by the way, they are looking for any possible way to get another $60 billion to Ukraine by any means possible. This is what you call "fiscal insanity"!
https://www.oann.com/newsroom/biden-cancels-6b-in-student-debt-for-78000-public-service-workers/
Advertisement
The 78,000 eligible public service workers include nurses, teachers, and firefighters, according to the White House.
“These public service workers have dedicated their careers to serving their communities, but because of past administrative failures, never got the relief they were entitled to under the law,” Biden said in a statement touting the move.
“From day one of my Administration, I promised to fix broken student loan programs and make sure higher education is a ticket to the middle class, not a barrier to opportunity,” Biden continued. “I won’t back down from using every tool at my disposal to deliver student debt relief to more Americans, and build an economy from the middle out and bottom up.”
Meanwhile, as of June 2023, almost 43.4 million U.S. student loan recipients had $1.63 trillion in outstanding loans, according to the Federal Student Aid website.
This comes after the Biden administration canceled almost $5 billion in debt for 74,000 public-sector borrowers.
Overall, the White House has approved $144 billion in federal loan forgiveness for about 4 million borrowers in total, according to the Biden administration.
MY COMMENT: Keep in mind that out country has a $34 billion national debt, with another $2 Billion annual deficit projected for this fiscal year. We have a congress that refuses to do it's job and take up individual appropriation bills and instead resorts to continuing resolutions and minibus bills that no member of congress reads before passing. Oh, and by the way, they are looking for any possible way to get another $60 billion to Ukraine by any means possible. This is what you call "fiscal insanity"!
https://www.oann.com/newsroom/biden-cancels-6b-in-student-debt-for-78000-public-service-workers/
Mar 22, 2024 00:00:57 #
ACP45 wrote:
President Joe Biden announced on Thursday that the... (show quote)
No more than $3Trillion in tax breaks for rich people ,
Always given by rrpublicsns.
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