Biden Cancels $6 Billion In Student Loans For Public Service Workers

Reports reaching GlobalCurrrent24.com is, President Joe Biden cancels $6 Billion in student loans for all public service workers as of March 22.

On Thursday, March 21, President Joe Biden officially announced that his administration will be cancelling $6 Billion student debt for about 78,000 public service workers. Although the Supreme Court did not give the go ahead for this move sometime ago, the White House, led by President Joe Biden, is ready to relief the American people off their debts.

Biden Cancels $6 Billion In Student Loans – Key Facts

Through the Federal Government’s Public Service Loan Forgiveness, the administration led by President Joe Biden will be cancelling major student debt.

The public service workers affected by this huge borrowing from students are mostly, nurses, teachers, firefighters, and some Americans in civil roles.

Since President Joe Biden took the baton to become the POTUS, he has forgiven about 870,000 public service workers of their debt or unpaid loans.

Not surprisingly, the total amount of student loans given out during this Biden administration is about $144 billion. With this huge borrowing from the students, it affected close to 4 million other American borrowers.

Will President Biden Be Able To Fulfil His Promise?

The actual date for this promise to be effective is unknown as at now. According to the President of the United States, Joe Biden, he “won’t back down from using every tool at my disposal to deliver student debt relief to more Americans”.

In other news as well, the Congress is yet to pass a budget proposal which was released by President Biden on keeping a few student loan programs and making them tax-free.

The ideal and maiden plan of the White House led by President Joe Biden was to forgive about $20,000 in debt per person. With this, it would have been more than $400bn in student loans.

As I stated earlier, the US Supreme Court boldly ruled and stated to President Biden and his administration that, they do not have the authority to cancel all student debt without the approval from the Congress.

Upon the ruling from the US Supreme Court, numerous Americans were furious with the Court and highly criticised President Joe Biden and his administration of not doing enough to address the unfair ruling from the Supreme Court.

Most people see this as a tactic from President Joe Biden in order to win against former President, Donald Trump in the upcoming 2024 presidential elections.

After the ruling from the Supreme Court, the White House administration, led by President Joe Biden, have cancelled numerous student loans, which is also so far the better than any other American president.

The major plan to relief these students and public service workers off their debt is unknown as well. However, the plan at hand, is to see their debt cancelled after they have made payments in 120 months.

Although the White House, have provided billions to relief off this debt using some top strategies, it still does not fall in the quota of the $400 billion in loans the administration is trying to forgive.