In last major batch of student loan relief, Biden forgives $4.5B for 261K borrowers
The new batch of debt cancellation comes a few days after the administration said it passed the milestone of forgiving nearly $200 billion in student loan debt for more than five million borrowers during Joe Biden's presidency. Biden initially hoped to waive student loan debt for tens of millions of Americans, however, his administration didn't come close to that goal, due in part to congressional opposition and court challenges. The Education Department on Wednesday also proposed banning Andrew Clark, the founder of Zovio, from leading any institution that receives federal financial aid funds. Clark departed the company in 2021. At the time , Zovio's board chair said he led a "historic sale" and that he "laid the foundation for Zovio to provide excellent service to our partners and extend our ability to innovate and expand our ed tech services and solutions." As President-elect Donald Trump prepares to take office, advocates for borrowers are concerne...