Government Cancels $7.7 Billion in Student Loans for 160,000+ Borrowers | EWTN News Nightly

There's a graduation gift of sorts for college and trade school graduates, the Biden Administration is cancelling some $7.7 billion in student loans for more than 160,000 borrowers. President Biden says it's part of an ongoing effort to provide relief after the Supreme Court last year blocked his plan for broad-based college loan forgiveness. The overall numbers are eye popping. With the latest action, the Administration has cancelled $167 billion in student debt for nearly 5 million Americans. Republican Senator Bill Cassidy and 30 other GOP lawmakers wrote the Education Secretary demanding that the latest initiative be pulled. So who is benefiting? Education Secretary Miguel Cardona posted in a statement: "We remain persistent in fixing a broken student loan system. 1 in 10 federal student loan borrowers have now received forgiveness, meaning these borrowers now have financial breathing room and a burden lifted. And we're not done yet." Democrats praised the latest effort. Capitol Hill Correspondent, Erik Rosales reports.
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[@user-fc6bv4ww7g]

I have a question. How exactly does an education cost that much money? And does anyone really want to be taught by people that irresponsible?

[@RoyceMusic333]

Good luck.

[@Michiganian8]

🥰👍🏽