WASHINGTON (AP) — The Biden administration is canceling student loans for another 206,000 borrowers as part of a new repayment plan that offers a faster route to forgiveness. The Education Department announced the latest round of cancellations Friday in an update on the progress of its SAVE Plan. More people are becoming eligible for student loan cancellation as they hit 10 years of payments, a new finish line for some loans that’s a decade sooner than what borrowers faced in the past. Casting a shadow over the cancellations, however, are two new lawsuits challenging the plan’s legality. Two groups of Republican-led states, fronted by Kansas and Missouri, recently filed federal suits arguing that the Biden administration overstepped its authority in creating the repayment option. “From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity,” President Joe Biden said in a statement. “I will never stop working to cancel student debt — no matter how many times Republican elected officials try to stop us.” |
China strengthens punishment of corrupt practicesFM: China supports int'l peace conference on Ukraine crisisCurb on Chinese talent sparks strong backlashFM trip to aid stability in AsiaWang warns against stirring trouble in the Korean PeninsulaPalestinians seek unity with appointment of new PMNY tightens security in subways as crimes riseEU approves artificial intelligence lawBiden delivers forceful State of the Union addressChina, Angola elevate bilateral ties