The Biden administration has forgiven another $4.8 billion in student loan debt, with critics saying it’s unfair for taxpayers to pay for other people’s loans.
The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt for 80,300 borrowers, bringing the total that taxpayer burden to $132 billion.
“I won’t back down from using every tool at our disposal to get student loan borrowers the relief they need to reach their dreams,” President Joe Biden said in a Dec. 6 statement, in which he made clear that his administration is undeterred by the recent Supreme Court decision to block a wide-ranging initiative to cancel up to $20,000 in debt per student.
“In the wake of the Supreme Court’s decision on our student debt relief plan, we are continuing to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible,” the president added.
The latest action brings the total number of borrowers whose student loans have been forgiven to over 3.6 million.
“This level of debt relief is unparalleled, and we have no intention of slowing down,” Secretary of Education Miguel Cordona said in a…
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