The Biden Administration Just Erased $130 Million in Student Loan Balances. Here's Who Benefited.
When the Supreme Court shut down President Biden's student loan forgiveness plan about a month ago, millions of borrowers were dealt a really tough blow. Many people had been banking on having a portion (or in some cases all) of their lingering debt wiped out. Now, after a multiyear pause in payments, federal student loan borrowers will have to gear up to start forking money over to their loan servicers, once again.
President Biden may not have been successful in his quest to have student loan debt forgiven broadly, but his administration managed to wipe out $130 million in student loan debt for a select group of borrowers. And while those borrowers fell into a very specific category, there could be more instances of similar loan forgiveness to come.
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Source Fool.com
