How's this for Election Interference? After Supreme Court rules Biden does not have the authority to forgive student loans, he just does it anyway to buy votes!
You didn't go to college or you paid off your student loans as required but Biden makes you pay for his voters student loans - sound fair? You Ok with that? Yea, just ANOTHER reason to never vote for any Democrat Communist Leftist Politician!
by Ayelet Sheffey, BusinessInsider.com, November 30, 2024
Check your email: Thousands of student-loan borrowers are receiving emails from President Joe Biden after their balances have been reduced to zero.
On Tuesday, the White House announced that about 813,000 borrowers whose accounts were adjusted in August will receive an email from Biden congratulating them on their loans being forgiven due to the Education Department's one-time account adjustment to evaluate which borrowers have met the qualifying payment threshold on their repayment plan. A White House official said that the ongoing relief for borrowers comes on the heels of many not getting proper credit toward payments made on income-driven repayment plans intended to allow borrowers to make payments based on their income with the promise of forgiveness after 20 or 25 years.
"Congratulations — your student loan has been forgiven because of actions my Administration took to make sure you receive the relief you earned and deserve," the email from Biden says.
"For too long, the student loan program failed to live up to its commitments – and millions like you never got the relief you were owed because of errors and administrative failures," the email says. "I vowed to fix that, and I'm proud that my Administration has delivered on that promise."
Over the past few months, a growing number of borrowers have been receiving debt relief through the Education Department's adjustments to borrowers' accounts. In October, 125,000 more borrowers got $9 billion in debt wiped out through not only income-driven repayment adjustments but also relief through Public Service Loan Forgiveness.
This relief comes at a challenging time for borrowers. After a pause of over three years, federal student-loan payments resumed in October. Many borrowers have encountered a host of challenges since payments resumed — including inaccurate billing and communication issues with their servicers — due to the unprecedented transition back into repayment.
Click Here to Watch the Newest We the People Convention News & Opinion Podcast!
The Education Department has vowed to hold servicers accountable as borrowers make their payments, most recently withholding October pay from the servicer MOHELA over its failure to send billing statements to millions of borrowers on time.
On top of that, the department is also crafting its new plan for student-loan forgiveness after the Supreme Court struck down Biden's first attempt at broad relief in June. The department will meet with a group of negotiators for the third time in December to develop language for the final rule, which is set to be narrower than the language in Biden's first attempt.
Amid the repayment challenges and uncertainty with the next plan for relief, though, some borrowers have told Business Insider the relief they've received from the Education Department has been significant.
"It's a relief because it's money that I can use for my family expenses, which will make a huge difference for me," George Tucker, a 63-year-old borrower, previously told Business Insider.
"My wife isn't working, and I have a daughter who just had a baby who is now seven months old, so I'm helping her right now," he said. "She doesn't have the kind of income that she would need to be self-sustaining, so my wife and I are helping as much as possible. So this relief is going to help a lot."
CLICK HERE TO READ MORE ON THE BUSINESS INSIDER WEBSITE
