Biden Grants Student Loan Relief to Additional 150,000 Borrowers

President Joe Biden of the United States unveiled a new initiative on Monday to forgive student loan debt for an additional 150,000 borrowers, bringing the total number of beneficiaries to over 5 million during his administration. This latest move involves erasing $4.215 billion in debt, significantly impacting various sectors of the affected population, as reported by EFE.

Among the recipients are 85,000 students who were misled by unscrupulous financial practices at educational institutions; they will see $1.25 billion in debt forgiven. Additionally, 61,000 individuals with permanent disabilities will receive relief amounting to $2.5 billion, while 6,100 public sector employees will have debts totaling $465 million canceled.

"My administration has taken historic measures to alleviate student debt, hold bad actors accountable, and advocate for students nationwide," Biden stated in a White House press release.

Since taking office, Biden has forgiven a total of $183.6 billion in federal student loans, the largest amount by any U.S. administration in history. Over 5 million people have benefited from these actions aimed at easing the financial burden of those facing economic challenges after pursuing higher education.

"I pledged to ensure that higher education acts as a gateway to the middle class, not a barrier to opportunity, and I am proud to say we have forgiven more student loan debt than any other administration in history," the President emphasized.

In 2023, the Supreme Court blocked a Democratic plan that sought to provide a massive loan forgiveness to millions of borrowers. Nevertheless, Biden has made significant progress by enhancing existing Department of Education relief programs, facilitating debt elimination for specific segments of the population.

Despite these strides, more than 25 million Americans still grapple with student debt that exceeds the original loan amounts, exacerbated by interest rates that can surpass 8%. This remains a challenge for many families and a priority for the current administration.

With these new actions, Biden reaffirms his commitment to higher education as a cornerstone for progress and economic equity, while striving to alleviate the financial burden for millions of Americans affected by the student loan system.

In the final days of Biden's term, the administration has taken several notable actions. The U.S. Department of Defense recently announced the transfer of 11 Yemeni men from Guantanamo Bay to Oman, after being held for over two decades without formal charges. This move is part of ongoing efforts to reduce the population of the controversial facility, established in 2002 to detain terrorism suspects after the September 11 attacks.

Additionally, on Friday, the reward for information leading to the capture of Venezuelan President Nicolás Maduro and influential Interior Minister Diosdado Cabello was increased from $15 million to $25 million each. This action follows Maduro's inauguration in the National Assembly, controlled by the Chavismo, for the 2025-2031 presidential term amid escalating accusations of drug trafficking-related crimes.

Biden also concludes his administration with a record of 271,484 deportations during the fiscal year 2024, marking the highest number recorded in over a decade and surpassing any annual figure documented by his predecessor, Donald Trump.