list of executive orders signed by joe biden

Virginia Foxx, chairwoman of the House Education and the Workforce Committee, in a statement released Friday. “This president is dead set on ruining our postsecondary education financing system for a few votes next November, taxpayers and the rule of law be damned,” said Rep. Several Republican-led states and conservative groups filed legal challenges against the president’s student loan forgiveness program, and some Republican lawmakers have strongly criticized Biden’s changes to the student loan system. Since Biden took office, his administration has approved $116.6 billion in student debt relief for more than 3.4 million Americans, according to the Department of Education. With student loan repayments resuming in October after a yearslong pause during the pandemic, Friday’s action is the latest announcement from the administration to fulfill President Joe Biden’s promise to provide millions of Americans debt relief and continues efforts that have already resulted in more debt being canceled during his tenure than any other president. Those borrowers affected will include Americans with Direct Loans or Federal Family Education Loans held by the department. “By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans,” Cardona added in the statement.įriday’s action addresses “historical failures” and administrative errors that miscounted qualifying payments made by borrowers, according to the Department of Education. After reaching a set forgiveness threshold of 20 or 25 years, a borrower’s remaining balance is then wiped.

There are currently several different kinds of income-driven repayment plans for borrowers with federal student loans, which base payments on a borrower’s income and family size – regardless of their total outstanding debt. “For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” Education Secretary Miguel Cardona said in a written statement. The Biden administration announced Friday that 804,000 borrowers will have their student debt wiped away, totaling $39 billion worth of debt, in the coming weeks due to fixes that more accurately count qualified monthly payments under existing income-driven repayment plans.

List of executive orders signed by joe biden