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re: Biden announces more college debt forgivness
Posted on 3/21/24 at 7:17 am to SlowFlowPro
Posted on 3/21/24 at 7:17 am to SlowFlowPro
Interesting. Could you point to the specific law that gives the president the power to do this?
2
Posted on 3/21/24 at 7:26 am to RoosterCogburn585
quote:
Could you point to the specific law that gives the president the power to do this?
PSLF
quote:
If you’re employed by a government or not-for-profit organization, you might be eligible for the PSLF Program. The PSLF Program forgives the remaining balance on your Direct Loans
after you’ve made the equivalent of 120 qualifying monthly payments under an accepted repayment plan, and
while working full-time for an eligible employer.
Here is a pres release from an hour ago
quote:
The Biden-Harris Administration announced today the approval of $5.8 billion in additional student loan debt relief for 77,700 borrowers. These approvals are the result of fixes made by the Administration to Public Service Loan Forgiveness (PSLF). Today’s announcement brings the total loan forgiveness approved by the Biden-Harris Administration to $143.6 billion for 3.96 million Americans. This action builds on President Biden and his Administration’s efforts to provide debt relief to as many borrowers as possible as quickly as possible.
Posted on 3/21/24 at 7:29 am to RoosterCogburn585
quote:
Could you point to the specific law that gives the president the power to do this?
From the article:
quote:
President Joe Biden will announce Thursday that about 78,000 public service workers will have their student loans forgiven by his administration. The workers, which include teachers, nurses, firefighters and others, have “dedicated their careers to serving their communities,” Biden said in a statement.
Sounds like the PSLF
That program has been around forever, although potato made it easier to use.
I don’t t remember past presidents making announcements on this program. It just happens.
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