Biden-Harris administration floats out another$ 4.28 billion in student loan handouts

As President Biden and Vice President Harris prepare to leave the White House, the Biden administration announced another$ 4.28 billion in student borrowing freebies. The large loan handout will provide 54, 900 people staff loan forgiveness. ” Four years ago, the Biden-Harris Administration made a commitment to America’s educators, support members, nurses, first firefighters, and other public servants that we would fix the broken Public Service Loan Forgiveness Program, and I’m proud to say that we delivered”, Secretary of Education Miguel Cardona said in a release on Friday. With the action, almost$ 80 billion in loan forgiveness has been approved by Biden for nearly 5 million consumers. MUSK LEAD CONSERVATIVE FURY AGAINST SPENDING BILL” With the acceptance of another$ 4.28 billion in loan compassion for almost 55, 000 people servants, the Administration has secured nearly$ 80 billion in life-changing student debt relief for almost 5 million borrowers,” Cardona said. The successful conversion of the PSLF Program by the U.S. Department of Education is a testament to what can be achieved when leaders like President Biden and Vice President Harris are unwaveringly and proudly focused on making authorities offer for regular working people. The relief announced today includes both borrowers who have benefited from the Administration’s limited PSLF waiver, a temporary opportunity that ended in October 2022, as well as from regulatory improvements made during this Administration, according to the release. Biden pledged to forgive student loans for millions of Americans if elected during his 2020 presidential campaign, but the president has faced constant legal obstacles in his attempt to get rid of hundreds of billions of dollars in debt. The president and his team began looking into alternative ways to provide handouts after the Supreme Court ruled it was an overreach of the executive branch’s authority under the Constitution and the Biden administration’s first attempt to provide broad-based student loan forgiveness. President-elect Trump has stated he intends to reform the entire educational system during his term but has not specifically addressed how he will approach the Biden administration’s student loan handout plans. Fox News Digital’s Audrie Spady contributed to this report.