The Biden student loan forgiveness comes days after the Biden-Harris administration issued five rounds of student loan forgiveness.
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Congressional progressives ramped up pressure on the Biden administration for a sweeping order to forgive student loan debt, shifting focus once again to one of their top priorities after the House passage of the social spending bill on Friday.
In March, Education Secretary Miguel Cardona stated that debtors with accepted “borrower defense to repayment” claims would have their student debt forgiven. This is the first of three rounds of student debt forgiveness scheduled for this year, with the goal of assisting borrowers who attended institutions that were found to have engaged in fraudulent or unlawful activities.
According to the Education Department, more than 30,000 debtors are obtaining debt relief worth an estimated $2 billion in this first wave. At least 10,000 people have already had their balances erased, and the others will get a fresh start in the following weeks over the new Biden student loan forgiveness.