The president of the United States, Joe Biden, announced the decision to condemn debt with universities of another 150,000 people, which raises more than 5 million the total number of Americans benefited by their administration in this regard.
These 150,000 debtors now graduated include 85,000 individuals who attended schools, faculties or university centers and were “deceived” by their payment and interest systems; 61,000 people with a lack of “total or permanent capacity” to cover their loans; and 6,100 public officials.
Specifically, this foronation comprises a remove of 1,250 million for scammed students; 2.5 billion in the case of those who had no resources to assume payments; and 465 million for public workers.
“My administration has taken historical measures to reduce the burden of student debt, make the bad actors pay accounts and fight on behalf of students throughout the country,” said Biden in a statement distributed by the White House.
Since Biden assumed the position four years ago, he has forgiven the debt of more than 5 million people with federal student loans, valued at a total of 183.6 billion dollars.
“The first day of my administration, I promised to ensure that higher education is a ticket to the middle class, not a barrier to opportunities, and I am proud to say that we have forgiven more debt of student loans than any other administration in history,” Biden added.
In 2023, the US Supreme Court blocked the Democratic Plan to grant a large scale of student loans to dozens of millions of borrowers.
However, Biden managed to eliminate a large part of the country’s pending student debt by improving the existing debt relief programs of the United States Department of Education.
Interest rates in federal student loans exceed 8 % and there are more than 25 million borrowers with a debt greater than the total amount taken on loan.
