The impacted borrowers are people enrolled in the SAVE Plan.
The Biden administration will begin automatically relieving student debt for another 153,000 people on Wednesday, bringing the total number of Americans approved for debt relief to nearly 3.9 million.
President Joe Biden will tout the new debt relief in a speech from Los Angeles, and thousands of people will receive an email from the president informing them that they now qualify for relief.
“Congratulations — all or a portion of your federal student loans will be forgiven because you qualify for early loan forgiveness under my Administration’s SAVE Plan,” the email from the president will read.
The people receiving debt relief beginning Wednesday are those who enrolled in the newest student loan payment plan, called the SAVE Plan, which the Department of Education calls the most affordable plan for the majority of borrowers.
Anyone enrolled in the SAVE Plan who took out less than $12,000 in initial loans and has been paying them down for the past 10 years or more will have them forgiven.
There are vulnerable Republican House members. We have seen it demonstrated repeatedly with the Speaker shenanigans.
But if we close the scope of the timescale to just ‘now’ instead of over the last several election cycles it sure looks like an insurmountable challenge.
But if such Republican intransigence is the assumption, then the bipartisanship stance Biden has clung to is a failure strategy that should be abandoned. That as an example would be a step Biden could take to position his Party better legislstively.