US
By The Anand Market
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Explore President Biden's debt relief agenda. From campaign vows to legacy aspirations, unravel the reasons behind this policy.
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White House: Biden's goal is affordable college, not a financial burden. The student loan system is "broken," and he's determined to fix it.
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$9 billion relief plan to aid 125,000 Americans, including 53,000 public servants with over 10 years of service at federal, state, and local levels.
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Biden's fix for Public Service Loan Forgiveness ensures all eligible public servants get relief, addressing past limitations.
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51,000 long-time undergraduate loan holders get overdue relief as historical inaccuracies are corrected, sharing $2.8 billion.
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Approximately $1.2 billion will aid 22,000 individuals with disabilities, whether total or partial. Beneficiaries will be identified through a data match with the Social Security Administration.
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Prior efforts by the Biden administration to relieve student loan debt faced legal challenges, but new reforms are expected to overcome obstacles.
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Biden's administration approves $9 billion in debt relief, bringing the total to $127 billion. 3.6 million beneficiaries, including 513,000 with disabilities and 715,000 public servants.
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The White House reports $42 billion relief for 855,000 eligible borrowers fixing payment inaccuracies, and $22.5 billion for 1.3 million affected by school fraud or closures.
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Explore the Republican opposition to the loan forgiveness plan, citing concerns over executive orders and fairness for those who already paid off their loans.
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Conservative lawmakers are fighting Biden's loan relief efforts, arguing against the burden on American families and taxpayers.
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