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Most significant impact of Biden's student loan forgiveness by end of 2025?
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Resolution / Starting Odds
Increased public sector employment • 25%
Reduction in overall student loan debt • 25%
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Analysis and reports from educational and financial institutions, media coverage
Story
Biden Administration Cancels $4.28 Billion in Student Loans for 55,000 Public Sector Workers, Totaling $78 Billion Forgiven
Dec 20, 2024, 10:25 AM
The Biden administration has announced a final round of student loan forgiveness, canceling approximately $4.28 billion in debt for about 55,000 public sector workers. This decision is part of the administration's broader efforts to provide relief to student loan borrowers before President Biden leaves office. The total amount of student debt forgiven for public service workers has now reached $78 billion, benefiting nearly 5 million Americans. This announcement comes just weeks before Donald Trump is set to take office, marking a significant conclusion to the Biden administration's student loan initiatives.
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Fully Implemented • 25%
Partially Implemented • 25%
Blocked by Courts • 25%
Withdrawn by Administration • 25%
Supreme Court ruling • 34%
Federal Appeals Court ruling • 33%
District Court ruling • 33%
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Significant positive impact for Democrats • 25%
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Biden Administration • 25%
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Expansion of forgiveness • 33%
Reduction of forgiveness • 33%
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