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Biden Announces $4.8 billion in Student Loan Debt Forgiveness for 80,300 Borrowers
NNPA NEWSWIRE — “Today’s announcement comes on top of all we’ve been able to achieve for students and student loan borrowers in the past few years,” Biden stated. “This includes achieving the largest increases in Pell Grants in over a decade to help families who earn less than roughly $60,000 a year; fixing the Public Service Loan Forgiveness program so that borrowers who go into public service get the debt relief they’re entitled to under the law; and creating the most generous Income-Driven Repayment plan in history – the SAVE plan.
The post Biden Announces $4.8 billion in Student Loan Debt Forgiveness for 80,300 Borrowers first appeared on BlackPressUSA.

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia
On Wednesday, Dec. 6, the Biden administration declared that it would erase an extra $4.8 billion of 80,300 students’ student loan debt. The U.S. Department of Education’s adjustments to its Public Service Loan Forgiveness program and income-driven repayment plans have resulted in the alleviation.
U.S. Secretary of Education Miguel Cardona stated in a statement that “before President Biden took office, it was virtually impossible for eligible borrowers to access the student debt relief they rightfully earned. “This level of debt relief is unparalleled, and we have no intention of slowing down,” Cardona said.
Approximately $2 billion of the assistance will be allocated to almost 46,000 individuals who are currently participating in income-driven repayment programs. According to experts, loan servicers frequently neglected to monitor borrowers’ payments, resulting in the failure of the intended debt forgiveness schemes after a specified timeframe.
The U.S. Department of Education announced that 34,400 debtors who have been in public service for ten years or longer will be granted loan cancellation of $2.6 billion. Participants in the Public Service Loan Forgiveness program have had difficulties in obtaining the promised debt cancellation due to inaccuracies in their payment calculations and other related problems.
The Biden administration has recently eliminated around $132 billion in student debt for over 3.6 million American individuals. The Biden-Harris campaign expects their relentless pursuit of forgiving student loans will aid them in the polls as voters support measures that forgive student debt by a 2-to-1 margin.
Despite the Supreme Court striking down the administration’s earlier plan to offer as much as $20,000 in loan forgiveness to borrowers, Biden has relentlessly pursued other avenues to meet his campaign promise.
“From Day One of my Administration, I vowed to improve the student loan system so that a higher education provides Americans with opportunity and prosperity – not unmanageable burdens of student loan debt. I won’t back down from using every tool at our disposal to get student loan borrowers the relief they need to reach their dreams,” the president insisted.
Biden said the relief is courtesy of his administration’s efforts to fix Public Service Loan Forgiveness, so teachers, members of the military, nurses, and other public service workers receive “the relief they have earned.”
“And it’s because of actions my administration took to make sure that borrowers who have been in repayment for at least 20 years – but didn’t accurately get credit for student loan payments – get the relief they are entitled to,” Biden asserted, noting that the latest move brings the total debt cancellation his administration has approved to $132 billion for over 3.6 million Americans through various actions.
“Today’s announcement comes on top of all we’ve been able to achieve for students and student loan borrowers in the past few years,” Biden stated. “This includes achieving the largest increases in Pell Grants in over a decade to help families who earn less than roughly $60,000 a year; fixing the Public Service Loan Forgiveness program so that borrowers who go into public service get the debt relief they’re entitled to under the law; and creating the most generous Income-Driven Repayment plan in history – the SAVE plan.
“Borrowers can go to studentaid.gov to apply. And, in the wake of the Supreme Court’s decision on our student debt relief plan, we are continuing to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible.”
The post Biden Announces $4.8 billion in Student Loan Debt Forgiveness for 80,300 Borrowers first appeared on BlackPressUSA.
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Recently Approved Budget Plan Favors Wealthy, Slashes Aid to Low-Income Americans
BLACKPRESSUSA NEWSWIRE — The most significant benefits would flow to the highest earners while millions of low-income families face cuts

By Stacy M. Brown
BlackPressUSA.com Senior National Correspondent
The new budget framework approved by Congress may result in sweeping changes to the federal safety net and tax code. The most significant benefits would flow to the highest earners while millions of low-income families face cuts. A new analysis from Yale University’s Budget Lab shows the proposals in the House’s Fiscal Year 2025 Budget Resolution would lead to a drop in after-tax-and-transfer income for the poorest households while significantly boosting revenue for the wealthiest Americans. Last month, Congress passed its Concurrent Budget Resolution for Fiscal Year 2025 (H. Con. Res. 14), setting revenue and spending targets for the next decade. The resolution outlines $1.5 trillion in gross spending cuts and $4.5 trillion in tax reductions between FY2025 and FY2034, along with $500 billion in unspecified deficit reduction.
Congressional Committees have now been instructed to identify policy changes that align with these goals. Three of the most impactful committees—Agriculture, Energy and Commerce, and Ways and Means—have been tasked with proposing major changes. The Agriculture Committee is charged with finding $230 billion in savings, likely through changes to the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps. Energy and Commerce must deliver $880 billion in savings, likely through Medicaid reductions. Meanwhile, the Ways and Means Committee must craft tax changes totaling no more than $4.5 trillion in new deficits, most likely through extending provisions of the 2017 Tax Cuts and Jobs Act. Although the resolution does not specify precise changes, reports suggest lawmakers are eyeing steep cuts to SNAP and Medicaid benefits while seeking to make permanent tax provisions that primarily benefit high-income individuals and corporations.
To examine the potential real-world impact, Yale’s Budget Lab modeled four policy changes that align with the resolution’s goals:
- A 30 percent across-the-board cut in SNAP funding.
- A 15 percent cut in Medicaid funding.
- Permanent extension of the individual and estate tax cuts from the 2017 Tax Cuts and Jobs Act.
- Permanent extension of business tax provisions including 100% bonus depreciation, expense of R&D, and relaxed limits on interest deductions.
Yale researchers determined that the combined effect of these policies would reduce the after-tax-and-transfer income of the bottom 20 percent of earners by 5 percent in the calendar year 2026. Households in the middle would see a modest 0.6 percent gain. However, the top five percent of earners would experience a 3 percent increase in their after-tax-and-transfer income.
Moreover, the analysis concluded that more than 100 percent of the net fiscal benefit from these changes would go to households in the top 20 percent of the income distribution. This happens because lower-income groups would lose more in government benefits than they would gain from any tax cuts. At the same time, high-income households would enjoy significant tax reductions with little or no loss in benefits.
“These results indicate a shift in resources away from low-income tax units toward those with higher incomes,” the Budget Lab report states. “In particular, making the TCJA provisions permanent for high earners while reducing spending on SNAP and Medicaid leads to a regressive overall effect.” The report notes that policymakers have floated a range of options to reduce SNAP and Medicaid outlays, such as lowering per-beneficiary benefits or tightening eligibility rules. While the Budget Lab did not assess each proposal individually, the modeling assumes legislation consistent with the resolution’s instructions. “The burden of deficit reduction would fall largely on those least able to bear it,” the report concluded.
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A Threat to Pre-emptive Pardons
BLACKPRESSUSA NEWSWIRE — it was a possibility that the preemptive pardons would not happen because of the complicated nature of that never-before-enacted process.

By April Ryan
President Trump is working to undo the traditional presidential pardon powers by questioning the Biden administration’s pre-emptive pardons issued just days before January 20, 2025. President Trump is seeking retribution against the January 6th House Select Committee. The Trump Justice Department has been tasked to find loopholes to overturn the pardons that could lead to legal battles for the Republican and Democratic nine-member committee. Legal scholars and those closely familiar with the pardon process worked with the Biden administration to ensure the preemptive pardons would stand against any retaliatory knocks from the incoming Trump administration. A source close to the Biden administration’s pardons said, in January 2025, “I think pardons are all valid. The power is unreviewable by the courts.”
However, today that same source had a different statement on the nuances of the new Trump pardon attack. That attack places questions about Biden’s use of an autopen for the pardons. The Trump argument is that Biden did not know who was pardoned as he did not sign the documents. Instead, the pardons were allegedly signed by an autopen. The same source close to the pardon issue said this week, “unless he [Trump] can prove Biden didn’t know what was being done in his name. All of this is in uncharted territory. “ Meanwhile, an autopen is used to make automatic or remote signatures. It has been used for decades by public figures and celebrities.
Months before the Biden pardon announcement, those in the Biden White House Counsel’s Office, staff, and the Justice Department were conferring tirelessly around the clock on who to pardon and how. The concern for the preemptive pardons was how to make them irrevocable in an unprecedented process. At one point in the lead-up to the preemptive pardon releases, it was a possibility that the preemptive pardons would not happen because of the complicated nature of that never-before-enacted process. President Trump began the threat of an investigation for the January 6th Select Committee during the Hill proceedings. Trump has threatened members with investigation or jail.
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Reaction to The Education EO
BLACKPRESSUSA NEWSWIRE — Meanwhile, the new Education EO jeopardizes funding for students seeking a higher education. Duncan states, PellGrants are in jeopardy after servicing “6.5 million people” giving them a chance to go to college.

By April Ryan
There are plenty of negative reactions to President Donald Trump’s latest Executive Order abolishing the Department of Education. As Democrats call yesterday’s action performative, it would take an act of Congress for the Education Department to close permanently. “This blatantly unconstitutional executive order is just another piece of evidence that Trump has absolutely no respect for the Constitution,” said Rep. Maxine Waters (D-CA) who is the ranking member on the House Financial Services Committee. “By dismantling ED, President Trump is implementing his own philosophy on education, which can be summed up in his own words, ‘I love the poorly educated.’ I am adamantly opposed to this reckless action, said Rep. Bobby Scott who is the most senior Democrat on the House Education and Workforce Committee.
Morgan State University President Dr. David Wilson chimed in saying “I’m deeply concerned about efforts to shift federal oversight in education back to the states, particularly regarding equity, justice, and fairness. History has shown us what happens when states are left unchecked—Black and poor children are too often denied access to the high-quality education they deserve. In 1979 then President Jimmy Carter signed a law creating the Department of Education. Arne Duncan, former Obama Education Secretary, reminds us that both Democratic and Republican presidents have kept education a non-political issue until now. However, Duncan stressed Republican presidents have contributed greatly to moving education forward in this country.
During a CNN interview this week Duncan said during the Civil War President Abraham “Lincoln created the land grant system” for colleges like Tennessee State University. “President Ford brought in IDEA.” And “Nixon signed Pell Grants into law.” In 2001, the No Child Left Behind Act was signed into law by President George W. Bush which increased federal oversight of schools through standardized testing. Meanwhile, the new Education EO jeopardizes funding for students seeking higher education. Duncan states, PellGrants are in jeopardy after servicing “6.5 million people” giving them a chance to go to college. Wilson details, “that 40 percent of all college students rely on Pell Grants and student loans.”
Rep. Alma Adams (D-NC) says this Trump action “impacts students pursuing higher education and threatens 26 million students across the country, taking billions away from their educational futures. Meanwhile, During the president’s speech in the East Room of the White House Thursday, Trump criticized Baltimore City, and its math test scores with critical words. Governor West Moore, who is opposed to the EO action, said about dismantling the Department of Education, “Leadership means lifting people up, not punching them down.”
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