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White House Wipes Out $7.4 Billion in Student Loans, Totaling $153 Billion Since Last Summer – Check It Out!

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White House Announces $7.4 Billion Student Loan Forgiveness for Hundreds of Thousands

Student Loan Forgiveness Sparks Political Clash Between White House and Republicans

The White House just announced they’re forgiving $7.4 billion in student loans for over 277,000 people, according to the published article of Washington Examiner. This is part of a bigger plan that’s already forgiven $153 billion since last summer. They say nearly 4.3 million borrowers have been helped so far especially those with low balances who might be the first in their families to go to college.

Some Republicans are saying it’s not fair to taxpayers and that the president can’t spend money like this without Congress saying okay and even suing to stop it. The Education Secretary says these plans are important to keep people from defaulting on their loans and to help them get ahead. It’s all part of a bigger fight between Democrats and Republicans about money and who should pay for what.

READ ALSO: Montana SNAP Benefits: Up To $1,751 In Food Stamps Aid In 23 Days!

White House Announces $7.4 Billion Student Loan Forgiveness for Hundreds of Thousands. (photo: The New York Times)

Student Loan Forgiveness Becomes Center Stage in Political Battle Over Promises and Spending

Furthermore, this fight about student loans is also about politics and keeping promises. President Biden said he’d help students with their debt when he was running for president, and now he’s trying to do that. But Republicans are saying he can’t just decide to spend so much money without getting permission first. While the

is trying to help a lot of people with their loan payments this argument over student loans is turning into a big political fight with important results.

READ ALSO: SNAP Restrictions In 2024: How Food Stamps Benefit Paychecks May Be Affected In Four US States

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