Biden Highlights Student Debt Relief Progress as Elections and Legal Challenges Approach
While many of President Joe Biden’s student loan reforms are currently tied up in legal disputes, he continues to emphasize the successes of a particular program aimed at public service employees.
With Election Day approaching in less than three weeks, the White House intends to shine a light on the substantial student loan forgiveness achievements despite the ongoing legal battles surrounding its relief efforts.
President Joe Biden praised the recent announcement of debt relief totaling $4.7 billion for over 60,000 borrowers as a significant step forward in reforming the Public Service Loan Forgiveness (PSLF) program.
The PSLF program, established by Congress in 2007 to provide debt cancellation for public sector and many nonprofit workers, had struggled to meet its objectives. Prior to Biden’s administration, only 7,000 borrowers qualified for debt relief, according to the Education Department.
The upcoming announcement will increase the total count of borrowers who have received loan forgiveness through the PSLF program to over one million. This achievement marks a significant milestone following years of criticism regarding the program’s mismanagement. Once again, it highlights Democrats’ eagerness to prove they are fulfilling their promises of student debt relief as the presidential election nears.
“From the very first day of my Administration, I committed to making higher education a pathway to the middle class, not an obstacle to opportunity,” Biden stated. “I will always strive to make higher education more accessible, no matter how often Republican officials attempt to hinder our efforts.”
Unlike other initiatives aimed at providing student debt relief, the PSLF program has not faced the same legal challenges from conservative groups. Many previous announcements regarding debt cancellation have involved forgiveness from a different initiative called Saving on a Valuable Education (SAVE).
SAVE links borrowers’ monthly payments to their income levels. The Education Department has cancelled around $170 billion through this program, but it is currently on hold due to a court order from a lawsuit initiated by officials from Republican-led states. Arguments regarding the legality of this relief program are scheduled for next week.
During a press call on Wednesday, senior officials from the Education Department did not specify whether the loan forgiveness announced this week would have been greater were it not for the numerous legal challenges pending.
