Biden says 16 million students applying for debt relief will be approved this week

Biden says 16 million students applying for debt relief will be approved this week

President Biden said Thursday that 16 million Americans who have applied for the student loan debt program will be approved by the end of the week, the final step before they start receiving forgiveness checks.

“By the end of this week, the Department of Education will approve the applications of 16 million Americans and send the necessary documents to student loan servicers – the last step before 16 million Americans can receive their loans,” Biden said in a statement at Central New Mexico Community College in Albuquerque. , NM

Those 16 million people “should feel relief in the coming days,” he said, noting that the program is temporarily on hold due to legal challenges.

He blamed the shutdown on Republicans, adding that “their outrage is just misplaced, and I might add… I’m not being too political here, I’m being hypocritical.”

The legal ruling stopped the administration from disbursing aid while a federal appeals court considers an appeal by six Republican-led states. Biden previously predicted that the checks would arrive in the coming weeks and that his administration would win the lawsuit.

The plan is slated to forgive up to $10,000 of federal student loan debt for borrowers earning under $125,000 and as much as $20,000 for borrowers who received Pell grants.

Biden touted the program, despite the setback, in the days leading up to the election as one of his administration’s greatest achievements.

“My plan will make a real difference by lowering monthly costs for families,” Biden said Thursday.

He added that 150,000 New Mexicans who took a Pell Grant to go to college qualify for loan forgiveness.

Biden was joined in his remarks by New Mexico Gov. Michelle Lujan Grisham (D), who is in a competitive re-election bid against Republican candidate Mark Ronchetti.

The president will campaign for governor at an event later Thursday, despite New Mexico being a typically blue state and Lujan Grisham leading the polls. A recent poll shows her holding a 3 percentage point lead over Ronchetti.

Biden will leave New Mexico Thursday night for a campaign event in San Diego, California, another blue stronghold, campaigning for incumbent Rep. Mike Levin (D.)

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