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Earn Your Leisure

Advance Placement: Biden Administration Cancels $39 Billion in Student Loans: What It Means for Over 800,000 Borrowers

Earn Your Leisure

iHeartPodcasts

Entrepreneurship, Education, Careers, News, Investing, Business, Business News

4.97.9K Ratings

🗓️ 27 July 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

In this clip, we delve into the recent move by the Biden administration to cancel $39 billion in student loans, impacting over 800,000 borrowers. We explore the implications of this landmark decision, its immediate effects on the affected borrowers, and what it could potentially mean for future policy changes. 


This could be a game-changer in the world of student loans and debt relief, so make sure to tune in to understand how it may directly or indirectly influence your financial decisions. Don't forget to like, comment, and subscribe for more updates on personal finance and policy news. #studentloan #biden #debt 


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Transcript

Click on a timestamp to play from that location

0:00.0

President Biden, he announced the student loan relief

0:07.0

or student loan forgiveness, and a lot of people still

0:11.6

aren't really sure about what it really means,

0:15.2

because they know the Supreme Court rejected a larger plan

0:20.4

last week, but they were still able to actually get something

0:23.0

through.

0:23.8

And people want to know, am I eligible?

0:27.0

What does this mean for me personally?

0:29.8

Is this going to affect me?

0:32.4

So what's your thoughts and what

0:35.1

happened with this student loan relief situation?

0:40.1

So based on the most recent announcement,

0:42.8

if you were on an income-based repayment plan,

0:47.9

and you've been paying your student loans off

0:50.6

for the last 20 years or 25 years, depending upon the plan,

0:55.2

your student loans are about to be forgiven in the next month,

0:59.6

outright done forgiven.

1:01.9

That's going to impact 804, 803,000 Americans

1:05.8

across the country.

1:07.1

We're still gathering the numbers in terms

1:09.2

of how many impacts in our district.

1:13.5

We are still also seeking clarity to find out

...

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