The White House has announced that around 813,000 student loan borrowers will soon be receiving an email from President Joe Biden that will notify them that their debts have been forgiven due to the actions taken by him earlier.
Forgiveness Email
Many borrowers who will be receiving this email may already know about the loan cancellation and may have already received the relief. This message directly from the president will make it extremely clear who was responsible for the relief, coming less than a year ahead of the 2024 presidential election. The email will read: “Congratulations — your student loan has been forgiven because of actions my administration took to make sure you receive the relief you earned and deserve.”
Historic Debt Cancellation
Joe Biden has so far forgiven $127 billion in student debt for more than 3.5 million borrowers, which is more than any other president in history. The relief has been provided through existing programs such as Public Service Loan Forgiveness and income-driven repayment plans, through which the previous relief was hard to access.
Political Opposition
Biden’s plan to cancel up to $400 billion in student debt for tens of millions of Americans was rejected by the Supreme Court in June. The opposition largely comes from Republican nominees for president who oppose student loan forgiveness. Former New Jersey Gov. Chris Christie has said that Biden didn’t have the authority to cancel student debt without prior authorization from Congress. Former President Donald Trump has also sided with the Supreme Court on this matter.
Additionally, Florida Gov. Ron DeSantis has said that it’s wrong to saddle taxpayers with the expense of student loan forgiveness. These statements are based on concerns about fairness and taxpayer expense, arguing that forgiving student loan debt may not be justifiable.
Public Opinion
However, despite the political controversy, voters support forgiving at least some student loan debt by a 2-to-1 margin, according to a Politico/Morning Consult poll. This indicates that the public’s opinion is in favor of student loan forgiveness, with less than a third opposing the policy. This shows that there is a strong commitment from the public to provide students with relief from their debts.
The White House has used existing loan forgiveness programs to ensure that hardworking American families get the financial support they need to sustain themselves and their families. With rising public support for student loan forgiveness, the issue promises to remain at the forefront.
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