Biden Cancels $1 Billion Of Student Loans |

[bhaigan]

The Biden administration is cancelling $1 billion of student loans.

Here’s what you need to know.

Student Loans

In the ongoing debate over student loan cancellation, at least some borrowers will get student loan forgiveness. In a major announcement, the U.S. Department of Education will enact student loan cancellation for 72,000 student loan borrowers who previously had some student loans cancelled, but now will get full student loan cancellation. The Biden administration says the previous formula to cancel student loans in cases of fraud or school closure that was used in the Trump administration — which often created partial student loan forgiveness — was unfair to student loan borrowers.

Under a federal law known as the borrower defense to repayment, borrowers could get federal student loan cancellation if they attended a school that engaged in deceptive or illegal practices or closed suddenly. In 2016, the Obama administration issued new rules to protect student borrowers and get student loan relief. These rules existed as a form of consumer protection because absent these rules, student loan borrowers would still have to pay off student loans even if they didn’t find gainful employment after attending schools such as ITT Technical Institute or Corinthian Colleges.

[DummyVariable]

@betapilli did not want this

[HugoStrange]

just a drop in the ocean

[Deadp0ol2]

Rei em chestunav ra. Mind 10ginattu undi musalodiki

[veerigadu]

Silicon valley and tri valley batch @sattipandu gadiki kuda benefit aaa ayitheeee

[veerigadu]

Just now, Deadp0ol2 said:

Rei em chestunav ra. Mind 10ginattu undi musalodiki

Why. What's wrong. They are deceived anta kadhaaa

[r2d2]

cancel culture ante ila artham chesukunnadannamaata....

[keviinusa]

1 minute ago, r2d2 said:

cancel culture ante ila artham chesukunnadannamaata....

endii idi

[veerigadu]

1 minute ago, keviinusa said:

endii idi

Google cheyiii

[betapilli]

28 minutes ago, DummyVariable said:

@betapilli did not want this

A lot of people don't go to school in fear of having student loans. I am sure, tons of history majors making 20k think it's a good idea to spend 200k in tuition fees. 

[Rushabhi]

Is this true

[veerigadu]

Just now, Rushabhi said:

Is this true

Yes why 

[bhaigan]

Just now, Rushabhi said:

Is this true

yes

 

[bhaigan]

Source:- 

https://www.forbes.com/sites/zackfriedman/2021/03/18/biden-cancels-1-billion-of-student-loans/?sh=756b24bf2460

[Rushabhi]

1 minute ago, veerigadu said:

Yes why 

Ante should it not go through congress ani doubt vachindi