A student loan cancellation program for public workers has granted relief to more than 1 million Americans — up from just 7,000 who were approved before it was updated by the Biden administration two years ago.
We shouldn’t be treating it as special and noteworthy when the executive branch faithfully executes the laws.
“Biden reverses out Trump policy of denying claims under the Public Direct Loans Act” would have made for a far more accurate, more compelling, and more politically engaging headline. Sadly, we’re going to pretend he’s just doing a Debt Jubilee out of the goodness of his heart, rather than fulfilling the terms of the contract that lenders agreed to when they took lower-paying public sector jobs for 5-10 years.
“Biden reverses out Trump policy of denying claims under the Public Direct Loans Act” would have made for a far more accurate, more compelling, and more politically engaging headline. Sadly, we’re going to pretend he’s just doing a Debt Jubilee out of the goodness of his heart, rather than fulfilling the terms of the contract that lenders agreed to when they took lower-paying public sector jobs for 5-10 years.