Biden cancels debt for another 150,000 students at universities

The President of the United States, Joe Biden, announced on Monday a new student debt cancellation that will benefit 150,000 borrowers, bringing the total to over 5 million people aided during his Administration.

This measure includes the elimination of 4.215 billion dollars in debt, with a significant impact on various sectors of the affected population, reported EFE.

Among the beneficiaries are 85,000 students who were deceived by irregular financial practices at educational institutions, and they will have $1.25 billion forgiven.

Additionally, 61,000 people with permanent disabilities will receive relief amounting to 2.5 billion dollars, while 6,100 public workers will have debts canceled totaling 465 million dollars.

"My Administration has taken historic steps to reduce the burden of student debt, hold bad actors accountable, and advocate on behalf of students across the country," Biden stated in a statement released by the White House.

Since taking office, Joe Biden has forgiven a total of $183.6 billion in federal student loans, the highest amount ever achieved by any administration in United States history.

More than 5,000,000 people have benefited from these measures aimed at reducing the financial burden on those facing economic difficulties after pursuing higher education.

"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 student loan debt than any other Administration in history," the president emphasized.

In 2023, the Supreme Court blocked a Democratic plan that aimed to provide massive student loan forgiveness to millions of borrowers.

However, Biden has made significant progress by enhancing existing relief programs from the Department of Education, allowing for debt cancellation for specific segments of the population.

Despite these efforts, more than 25 million Americans still face student debt that exceeds the amounts initially borrowed, compounded by interest rates that can exceed 8%.

This reality remains a challenge for many families and a priority for the current Administration.

With these new actions, Biden reinforces his commitment to higher education as a cornerstone for progress and economic equity, while seeking to ease the financial burden on millions of Americans affected by the student loan system.

A few days before leaving the White House, the Biden administration has taken some actions. The United States Department of Defense recently announced the transfer of 11 Yemeni men from the Guantanamo Bay prison to Oman, after more than two decades of being detained without formal charges.

This action is part of the current administration's efforts to reduce the population of the controversial facility, established in 2002 to house terrorism suspects following the September 11, 2001 attacks.

On the other hand, on Friday the reward for information leading to the capture of Nicolás Maduro, the president of Venezuela, and the influential Minister of the Interior Diosdado Cabello was increased from 15 to 25 million dollars for each.

This measure comes after Maduro's swearing-in at the National Assembly, controlled by Chavismo, for the presidential term 2025-2031, amid increasing accusations of drug-related crimes.

Moreover, Biden ends his term with a record 271,484 migrants deported during the fiscal year 2024. This is the highest number recorded in over a decade and surpasses any annual figure recorded by his predecessor, Donald Trump.

Frequently Asked Questions about Student Debt Forgiveness by Joe Biden