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Biden's decision to block thousands of student-loan borrowers with privately held debt from his loan forgiveness is 'disturbing' and a 'big mistake', some Democratic lawmakers say

2 monthes ago   |   By Business Insider

US President Joe Biden OLIVER CONTRERAS/AFP via Getty Images
Biden decided to exclude thousands of FFEL borrowers from his student-loan forgiveness.
Some Democratic lawmakers told Politico they were not aware of this change in advance.
"I certainly don't think we should be going backwards in any way," Rep. Ro Khanna said.
President Joe Biden's decision to scale back eligibility for his student-loan forgiveness plan came as a shock to some Democratic lawmakers. Last week, Biden's Education Department released updated guidance on the federal borrowers eligible for up to $20,000 in debt...
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Elizabeth Warren slams Republicans' efforts to block Biden's student-loan forgiveness, saying 'it won't work' and prioritizes 'the profits of corporate loan servicers'

2 monthes ago   |   By Business Insider

U.S. Sen. Elizabeth Warren. Win McNamee/Getty Images
Lawsuits from Republicans are mounting on Biden's student-loan forgiveness plan.
Elizabeth Warren said it "won't work" and is an attempt to bring profits to student-loan companies.
Biden maintains he has the authority to enact the relief and told Republicans to "bring it on."
Democrats are continuing to push back on conservative efforts to stop President Joe Biden's student-loan forgiveness plan in its tracks. After Biden announced up to $20,000 in federal debt relief for borrowers making under $125,000 a year at the end of August...
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