Biden Bits: “Default is Not an Option”…

Biden Tweets Logo. Image by Lenny Ghoul.

I’m changing things up again. I know what a shocker…

The Debt Ceiling Tweets

From Tuesday…

Before his meeting with Congressional Leaders…

After his meeting with Congressional Leaders…

The YouTube is 18 minutes and 50 seconds long.

His remarks:

I have a brief statement, and then I’ll be happy to take your questions.

First, I just finished, I thought, a productive meeting with the congressional leadership about the path forward to make sure America does not default — I emphasize does not default on its debt for the first time in history.

And I’m pleased but not surprised to hear Republican Minority Leader of the United States Senate saying that — at our meeting that the United States is not going to default.  It never has, and it never will.  And he’s absolutely correct.

We continue — we agree to continue our discussions, and we’re going to meet again on Friday. 

In the meantime, our staffs — we’re going to meet today and daily between now and then.  And everyone in the meeting understood the risk of default.  Our economy would fall into a significant recession.  It would devastate retirement accounts, increase borrowing cost.  According to Moody’s, nearly 8 million Americans would lose their jobs.  And our international reputation would be damaged in the extreme.  The last part is me — international.  He didn’t — Moody’s did not say the last part about damage in the extreme.

I made clear during our meeting that default is not an option.  I repeated that time and again.  America is not a deadbeat nation.  We pay our bills.  And avoiding default is a basic duty of the United States Congress.  In fact, they did it three times under my predecessor without once — not one time — creating a crisis, rattling the markets, or undermining the unshakable trust the world has in America’s commitment to paying its bills.

And I’ll remind you the national debt went up 40 percent
over the 200-year — went up 40 percent under my predecessor.  And that’s the problem we’re dealing with today.

I might note parenthetically: In my first two years, I reduced the debt by $1.7 trillion.  No President has ever done that.

I told congressional leaders that I’m prepared to begin a separate discussion about my budget and spending priorities, but not under the threat of default. 

As I said, I’ve already cut the deficit by $1.7 trillion in my first two years in office.  And the budget just submitted to Congress cuts another $3 trillion in debt over the next 10 years — my budget that I submitted.

I made it clear that we can cut spending and cut the deficit.  For example, my budget cuts $200 billion in spending by strengthening Medicare’s power to negotiate for lower prescription drug prices.  In addition, that’s on top of the $160 billion in budget savings we passed last year by being able to reduce the price of insulin and other drugs for those on Medicare.

And my budget cuts $30 billion — $30 billion in spending on tax subsidies for Big Oil companies.  They made $200 billion.  They don’t need a $30 billion subsidy to drill.  It makes no sense.  Why are we handing them a $30 billion tax subsidy?

And, you know, it’s time to stop doing that.  And that’s what my budget does, among — among other things.

My budget also funds the inerternal [sic] — the Internal Revenue Code so that there’s enough agents to thoroughly look at the taxes of billionaires in America.  This Congressional Budget Office says it would raise $200 billion.  Larry Summers, a former secretary, says — says it would raise twice that amount.  It’ll raise a lot of money.  Why do they want to get rid of the people who, in fact, would be able to do those audits?

And my budget has some of the strongest anti-fraud proposals ever proposed.  It strengthens the number of inspector generals.  Remember, I know some of you covered me with my arguments in the past, with the last administration, for cutting inspector generals, as to how the money was being spent.  And the inspector generals are watchdogs for taxpayers’ dollars.  And it’s been estimated that we’d save $10 for every dollar spent on funding inspector generals.

My budget cuts wasteful spending, closes loopholes, and does one more thing: It makes the wealthiest Americans and the biggest corporations begin to start to pay some of their fair share — just some of their fair share.

Speaker McCarthy offered a very different way forward.  He’s proposed deep cuts that I believe are going to hurt American families.  And millions of Americans relying on Medicaid for their healthcare would be at risk of losing that.

And there would be 30 million fewer outpatient visits for veterans to the VA hospitals.  And we just increased the VA budget so they could accommodate seeing these folks.

And we have to cut — we’d have to cut three- — 30,000 law enforcement agents — FBI, DEA, Border Patrol.  A hundred thousand teachers and support personnel would lose their jobs. 

And all that would hurt Americans and leave folks behind.

Look, now, I know the Speaker says, well, I’m not — he uses the “L word,” the “lying” word, but says I’m not telling the truth.  All I asked him inside was: If you’re not going to cut any of those programs and you’re saying the cut is 22 percent across the board, then you’re going to have to cut a hell of a lot more with the programs that are left.  “No, we’re not going to do that either.”  I’m not sure.  I don’t think they’re sure exactly what they’re proposing.

And if House Republicans take cuts in defense off the table, the cuts they have to make to other programs will be even deeper than that. 

And one last thing that’s very important: The Speaker is saying he’s been trying to get me to sit down with him for 97 days.  Ninety-seven days ago, we did meet in my office.  I said to him at the time, “I’m happy to talk.  You submit your budget; I’ll set mine — submit mine.  And we’ll talk about it.” 

And I don’t want to get any press person — point anybody out, but I think you all remember my saying that.

I submitted my budget on March the 9th in detail.  He passed his plan I think in the last or second-to-last week in April.  Five days later, after he finally put forward something, I called on him to invite — invite him to a meeting with the other leading members of the Congress.

Look, over these last few days and weeks, there’s going to be — there’s a lot of politics posturing and gamesmanship, and it’s going to continue for a while.  But I am squarely focused on what matters.  And we’re getting to work. 

And I’ve said all along: Let’s discuss what we need to cut, what we need to protect, what new revenue we can raise, and how to lower the deficit to put our fiscal house in order.  But in the meantime — in the meantime, we need to take the threat of default off the table. 

As this meeting ended — as the meeting ended — (clears throat) — excuse me — I suggested we continue to meet, and the leaders — our staffs continue to meet, and the leaders meet again on Friday to continue our discussions to see what progress we’ve made.

So let me end where I began:  This nation has never defaulted on its debt.  It never will.

And thank you.  And now I’ll take your questions.

White House.gov. 05/09/2023.

The Questions:

Q: Will you roll out a short-term debt limit increase?  And are you concerned that Speaker McCarthy, at least publicly, will not take the threat of default off the table?

I don’t know what he thinks — what McCarthy thi- — Speaker McCarthy thinks.  I think he knows better.  I think he knows that default would be disastrous.  And I think he knows what he’s passed could not possibly pass anywhere in the Congress; it’s dead on arrival.

And so — so, I — but I don’t know his — the depth of his thinking.

Yes.

White House.gov. 05/09/2023.

Q: And what about a short-term debt limit increase?  Are you ruling that out?  Is that not okay for you?

I’m not ruling anything out.  I said I’d come back and talk.  I’m just ruling — there’s one thing I’m ruling out is default.  And I’m not going to vote — I’m not going to pass a budget that, in fact, caused massive cuts.

I’ll give you one example.  They want to cut the I- — the — the — the legislation we passed, the IRA [Inflation Reduction Act].  Well, guess what — what they want to cut?  They say that we’re spending too much, giving tax breaks to people who are moving to renewable energy, and that by getting rid of those tax breaks we can — we can — we can save li- — save money.

Well, you all saw — one of you probably wrote the article in today’s New York Times about Texas.  They’re making significant progress on solar and wind and renewable energy and hydrogen.  And guess what?  They want to cut it.  You know why?  I don’t think it’s anything to do with anything other than the oil companies don’t like it.

White House.gov. 05/09/2023.

Q: How certain are you at this point that a default can be avoided with so little time left?

Well, I’m — I’m absolutely certain because I — you have the 95 percent of the member — well, I shouldn’t say — I won’t be — put in a number.  An overwhelming number of the members of Congress know it would be a disaster.

White House.gov. 05/09/2023.

Q: Mr. President, if you do — you said you’re certain you’re not going to — they’re not going to — there won’t be a default.  Are you willing to take unilateral action, like invoking the 14th Amendment, to make sure that doesn’t happen?

Well, the question — I have been considering the 14th Amendment.  And a man I have enormous respect for, Larry Tribe, who advised me for a long time, thinks that it would be legitimate.  But the problem is it would have to be litigated.  And in the meantime, without an extension, it would still end up in the same place. 

I’ll be very blunt with you: When we get by this, I’m thinking about taking a look at — months down the road — to see whether — what the court would say about whether or not the — it does work.

Yes, sir.

White House.gov. 05/09/2023.

Q: Do you have time to get a deal and get it through before the deadline of as early as January [sic] 1st, and Secretary Yellen has warned about?

Oh, I know we have the time.  I mean, we could do it easily if they — if — but we do we have the will?

White House.gov. 05/09/2023.

Q: And you mentioned the 14th, sir.  There’s other proposals like prioritization of payments and minting the coin.  Can you speak to whether either of those have been studied by your staff?

No, I can’t because I don’t think anybody has studied the minting of the coin issue.  But there have been discussions about whether or not the 14th Amendment is — can be invoked.

[kept this together because cross-talking is real]

Q    Is that the most likely unilateral executive path — 

THE PRESIDENT:  Look, yeah, but I —

Q    — worst-case scenario?

THE PRESIDENT:  I — I don’t — I don’t think that solves our problem now.  I think that only solves your problem if — once the court has ruled that it does apply for future ene- — endeavors. 

Yes, sir.

White House.gov. 05/09/2023.

Q: Mr. President, do you trust Kevin McCarthy?

I — I — I — I trust Kevin will try to do what he says. 

I don’t know that — I don’t know how much leeway Kevin McCarthy thinks he has in light of the fact — and I’m not being a wise guy when I say it took 15 votes for him to acquire the speakership.  And, apparently, he had to make some serious concessions to get it from the most extreme elements of his party.  So, I — but I don’t — I just don’t know.

White House.gov. 05/09/2023.

Q: How long an increase are you seeking?  How long would you like to extend it either by dollar value, or do you want it suspended indefinitely? 

[cross talking question]

Well —

Q    The limit, I mean.

THE PRESIDENT:  No, no, no, I — I think we should — it should be more than — for more than a year so we can move things along.  And I think the discussions are somewhere — somewhere in two- — the two-year.  But there’s no certainty of when — how long.

Q    Past the election though?[he did not answer that question].

White House.gov. 05/09/2023.

Q: Mr. President, was Speaker McCarthy’s message to you behind closed doors the same one that we heard from him at the sticks: that he will absolutely not decouple raising the debt ceiling with cuts?  Did he send that message to you?

I — I don’t want to violate a — basically a trust that we had that we can — you can talk openly and make — and raise possibilities in the White House with the — on a — on a closed meeting.

White House.gov. 05/09/2023.

Q: On another topic, sir.  Today, former President Donald Trump was charged with battery and defamation.  Your reaction to that, sir?

I’m unaware of it.  I heard that as I’ve been walking from room to room, but I can’t comment on it.  I don’t know.

White House.gov. 05/09/2023.

Q: Let us ask it this way: What was the tenor of the meeting?  Was it civil?

[more cross talking]

THE PRESIDENT:  The tenor of the meeting was —

Q    Was it frank?  Or what?

THE PRESIDENT:  — with three of the four participants — very measured and — and low key.  Occasionally there would be a little bit of a — an assertion that maybe was a little over the top from the Speaker.  But nothing, you know — anyway.

White House.gov. 05/09/2023.

Q: Do you expect any — do you expect any substantial progress by the time you get back to meeting on Friday?

Well, it’s going to depend a lot on — I’ve been doing this a long time.  I don’t mean budget negotiations for the debt ceiling.  But sometimes — how can I say this? 

One of the ways in which senators or congresspersons are able to back off some of the things they’ve done is if they’re — give their staff some leeway, and the staff has then said, “Well, we’re going to do this.”  And it moves — it kicks the can down the road a little bit. 

White House.gov. 05/09/2023.

Q: Is there any chance you would postpone your trip for the G7 as a result of this?  Or are you — are you still committed to going on that trip?

I’m still committed, but obviously this is the single most important thing that’s on the agenda.

White House.gov. 05/09/2023.

Q: Mr. President — Mr. President, under the —

Let me get someone who hasn’t asked a question yet.  Anybody?  I’ll call — I’ll ask yours as well.

Yes, ma’am. 

White House.gov. 05/09/2023.

Q: So there is doubt that you might not go on your trip?  And you say this is the single most important issue.

I’m sorry?

White House.gov. 05/09/2023.

Q: Is it possible that you stay here and you don’t find a solution?

It is possible, but not likely.  In other words, if somehow we got down to the wire and we still hadn’t resolved this, and the — the due date was in a matter of — when I was supposed to be away, I would not go.  I would stay until this gets finished.

White House.gov. 05/09/2023.

Q: Are you more — are you more or less optimistic than you were this morning after this meeting?

More.

Q: Why?

THE PRESIDENT:  Because I’m a born optimist. 

White House.gov. 05/09/2023.

Q: Mr. President, was it a mistake under the Obama administration, when you were Vice President, to negotiate on the debt limit in the summer of 2011, since that set a precedent under a divided government to at least negotiate and have discussions over raising the debt limit?

No, in the sense that — I got a call that morning at six o’clock saying that the Republican leader would only talk to me, and there was no time left.  And so I sat down, and I got instructions from the White House to settle it.  And that was my job.  But I had no notice.

White House.gov. 05/09/2023.

Q: Sir, just to put a finer point on today —

Q: Mr. President, Speaker McCarthy said he asked you numerous times —

Okay, I’m going to — let me go with you and you and then to the person with a camera.  No, I’m joking.  (Laughter.)

White House.gov. 05/09/2023.

Q: Speaker McCarthy said that he asked you numerous times if there was anywhere in the federal budget for cuts, but he did not get an answer.  So is there anywhere —

THE PRESIDENT:  He got a specific answer.  He got a specific answer again today.  The first —

Q    Which is what? 

THE PRESIDENT:  I — well, you didn’t listen either.  So why should I even answer the question? 

I — we cut the deficit by $160 billion — billion — B-I-L-O-I-O-N — dollars on the Medicare deal.  We cut the deficit by raising the tax on people making — 55 corporations that made $40 billion to 15 percent.  And the list goes on.  So —

Q    But in terms of what he is proposing, is there any room for negotiation?

THE PRESIDENT:  What’s he proposing?  Did he tell you?

Q    Well, he —

THE PRESIDENT:  Did you hear him?

Q    — he talked about —

THE PRESIDENT:  No, no, I’m not being facetious.  Did he tell you what he’s proposing?

Q    He — he was talking about the bill.

THE PRESIDENT:  Yeah.  But what — what does it propose?  Do you know? 

I’m not being a wise guy.  You all are very, very informed people.  Do you know what that bill cuts?

Q    He — there is a long list of things that it — it cuts that he —

THE PRESIDENT:  No.  No, it doesn’t say.  It says — does it say what it’s going to cut or just say generically it’s going to cut? 

You get the problem.  You’ve answered.

White House.gov. 05/09/2023.

Q: Mr. President, Speaker McCarthy told us outside that he wants at least you to consider cutting and clawing back some of the unspent COVID relief funds.  Would that be something that you would consider, even if it’s independent of these debt limit discussions?

The answer is I’d take a hard look at it, because there’s still — we don’t need it all, but the question is what obligations were there made — commitments made, the money not dispersed, et cetera.  I have to look — take a hard look at it.  It’s o- — on — it’s on the table.

White House.gov. 05/09/2023.

Q: And just briefly, sir, to put a finer point on it, the — the lawmakers came out today, and their message was, essentially, there wasn’t much substantial progress in the meeting.  Do you agree with that?

THE PRESIDENT:  I listened to everything they said.  I didn’t hear them say that.

Q    Well, they — they said there was no movement.

THE PRESIDENT:  Yeah, but what else did they say?

Q    The Speaker said there was no movement.

Q    The Speaker.  So do you think that there was any substantial progress, aside from agreeing to meet again?

THE PRESIDENT:  (Laughs.)  Yes, among three of the fi- — of the four, yes, there was substantial movement in the sense that everyone agreed that deficit — defaulting on the debt is off the table.

Last one, okay?

White House.gov. 05/09/2023.

Q: Title 42.  Is the United States ready for the surge of people that’s going to come across the border starting later this week?

 I spent close to an hour with — with the Mexican President today.  We’re doing all we can.  The answer is: It remains to be seen. 

We’ve gotten overwhelming cooperation from Mexico.  We also are in the process of setting up resi- — offices in Colombia and other places where you could — where someone seeking asylum can go first. 

So — but it remains to be seen.  It’s going to be chaotic for a while.  And, as an example, as I raised in the meeting — when they said, “Well, we’re going to cut, and no spending more money.”  So what the hell happens?  If you cut — you’re going to cut people at the border?  You’re going to cut agents at the border?  We n- — we need more at the border, not less at the border.

Folks, thank you very, very much.  I appreciate your time.  And I’m sure we’re going to be talking more about this. 

Thank you.

White House.gov. 05/09/2023.

The wrap up:

Q    Thank you, Mr. President.

THE PRESIDENT:  Whatever the cameraman wants to know, I’ll answer.  (Laughter.)

Thank you very much.  I really mean it.

Q    He wants to know if — if the U.S. defaults, will you be able to say that you did everything in your power to avoid it?

THE PRESIDENT:  I promise you —

Q    I think he said —

THE PRESIDENT:  — I will do everything in my power to avoid it.

Thank you.

Q    Thank you, Mr. President.

White House.gov. 05/09/2023.

The White House posted the following readout of; President Joe Biden’s call with President Andres Manuel Lopez Obrador of Mexico

President Joseph R. Biden Jr. spoke today with President Andres Manuel Lopez Obrador of Mexico. The two leaders discussed their ongoing efforts to strengthen the U.S.-Mexico bilateral relationship, including the importance of enhancing cooperation between the United States and Mexico to manage unprecedented migration in the region. Toward that end, they discussed continued close coordination between border authorities and strong enforcement measures, in preparation for the return to full reliance on Title 8 immigration authorities at the U.S.-Mexico border, which carry steeper consequences for those removed than expulsion under Title 42. Both leaders underscored the value of managing migration in a humane and orderly fashion with expanded legal pathways and consequences for irregular migration. They also affirmed their shared commitment to address the root causes of migration from Central America and discussed expanding our two nations’ joint efforts. They discussed the urgency of effectively reducing crowding in northern Mexico. The two leaders affirmed that after May 11th, they will continue to implement the successful joint initiative which, over four months, achieved a 95 percent drop in border encounters of individuals from Cuba, Haiti, Nicaragua, and Venezuela at the U.S.-Mexico border.

President Biden and President Lopez Obrador also acknowledged recent positive developments in other areas of bilateral cooperation, including enhanced and accelerated efforts to counter illicit fentanyl and arms trafficking by dismantling criminal networks. President Biden committed to using all available tools to address arms trafficking and reduce the flow of firearms into Mexico. The leaders also reaffirmed their commitment to modernize the shared border and promote inclusive economic growth.

White House.gov. 05/09/2023.

From President Biden’s public schedule for Wednesday 05/10/2023:

1:30 PM The President discusses why Congress must avoid default immediately and without conditions, and how the House Republican Default on America Act will cut veterans’ health care visits, teachers and school support staffs, and Meals on Wheels for seniors
SUNY Westchester Community College, Valhalla, NY Open Press

The Other Tweets

From Tuesday…

The video clip is 35 seconds long. It was captured 04/24/2023 when President Biden and First Lady Dr. Jill Biden hosted; the 2023 National and State Teachers of the Year Celebration.

From Wednesday…

05/08/2023 The U.S. Department of Education issued the following press release:

To mark Public Service Recognition Week, the U.S. Department of Education (Department) today announced that, as of the beginning of May 2023, it has approved a total of $42 billion in Public Service Loan Forgiveness (PSLF) for more than 615,000 borrowers since October 2021. This is a result of the temporary PSLF changes made by the Biden-Harris Administration that made it easier for borrowers to reach forgiveness. At the end of the previous Administration, only about 7,000 borrowers had been approved for the PSLF program.

Additionally, the Department is announcing the implementation of improvements to the PSLF Help Tool, which borrowers use to apply for the program. These updates will, for the first time, let borrowers complete the entire PSLF application process online, and borrowers will no longer need to fax or mail in their application with a wet signature. Allowing borrowers to submit e-signatures for themselves and request e-signatures from their employers will significantly decrease processing time. In addition, borrowers can now digitally track the status of their PSLF form in the My Activity section of their StudentAid.gov account, where they can see updates such as whether their employer has digitally signed their PSLF form and when their form has been processed. This upgrade is in addition to the Biden-Harris Administration’s long-term improvements to the PSLF program, slated to take effect in July 2023, which will provide lasting benefits for borrowers.

“Since Day One, the Biden-Harris Administration has worked relentlessly to fix a broken student loan system, including by making sure we fulfill the promise of Public Service Loan Forgiveness for those who have spent a decade or more serving our communities and our country,” said U.S. Secretary of Education Miguel Cardona. “To date, the Biden-Harris team has kept that promise for more than 615,000 teachers, nurses, social workers, servicemembers, and other public servants by approving a combined $42 billion in student loan debt forgiveness. The difference that Public Service Loan Forgiveness is making in the lives of hundreds of thousands of Americans reminds us why we must continue doing everything we can to fight for borrowers and why families cannot afford to have progress derailed by partisan politicians. During Public Service Recognition Week—and every week—we thank all those who serve our communities.”

The targeted debt relief announced today is part of the Department’s ongoing efforts to ensure that the PSLF program fulfills the promise made to Americans who enter public service and that they receive the debt forgiveness they have earned by serving their communities and the country. Public Service Recognition Week celebrates individuals who serve the United States and local communities as an employee of Federal, state, local, or tribal government.

PSLF is one of several student loan forgiveness programs established by law. It supports public employees—such as teachers, firefighters, and members of law enforcement, as well as those who work for a non-profit organization in a variety of fields—by forgiving the remaining federal student loan balance for those who work in public service and make the required 120 qualifying monthly payments.

Borrowers across the country have benefited from the Department’s efforts to ensure that all public servants can more easily access this targeted debt relief. Of the nearly 616,000 borrowers whose loans have been approved for forgiveness, nearly 610,000 borrowers have already seen their loans discharged, and the rest will soon follow.

In addition to the borrowers who have been approved for forgiveness, more than two million borrowers now have an approved PSLF Form and are on the path to forgiveness. More public service employees around the country continue to apply as they become aware of the PSLF Program.

Continuously Improving the PSLF Help Tool

The Department remains committed to making it easier for borrowers to know if they are eligible for PSLF, certify their employment, apply for forgiveness, and track their progress. For the first time since the program began, borrowers can now sign and submit their PSLF form digitally and track its status throughout the process.

“FSA is making the Public Service Loan Forgiveness Program as easy as possible so all public servants can finally get the loan forgiveness they have earned,” said Federal Student Aid Chief Operating Officer Richard Cordray. “The improved PSLF Help Tool is another step forward to modernize and simplify the process for people who rely on us to carry out the law effectively.”

In the past, borrowers had to take multiple steps to complete and submit their PSLF Form. In most cases, they had to print and sign their form, obtain signatures on the printed form from one or more employers, then submit the completed form and related documents by mail or fax. Now, borrowers can complete the entire process digitally on StudentAid.gov via the PSLF Help Tool.

The newly updated PSLF Help Tool enables borrowers to sign and submit their PSLF form digitally; identify employers that need to sign the form and request an e-signature; and track the status of their form. These major changes to the PSLF application process are improving the experience both for public servants and for the employers who need to certify their employment.

Long-term Improvements to PSLF Program Through Regulations

In October 2022, the Department announced final regulations for the PSLF Program that will deliver lasting improvements for borrowers. These improvements will go into effect July 1, 2023, and are detailed in this fact sheet. The improvements include:

ED.gov. 05/08/2023.
  • helping borrowers earn progress toward PSLF,
  • simplifying criteria to help borrowers certify qualifying employment, and<
  • providing opportunities for borrowers to get help correcting PSLF account problems.

Borrowers with Direct Loans who work in public service are also likely to benefit from the one-time account adjustment announced by the Department last year. Borrowers with other types of federal loans have until the end of 2023 to consolidate into the Direct Loan program to receive credit for qualifying payments under this adjustment.

In addition to this one-time account adjustment, the Department also announced earlier this year new proposed regulations that would transform income-driven repayment (IDR) plans to better serve borrowers. The regulations would create the most affordable IDR plan that has ever been available to student loan borrowers, allowing those with incomes under $30,500, or under $62,400 in a family of four, to qualify for $0 monthly payments. They will also simplify the program and eliminate common pitfalls that delay borrowers’ progress toward forgiveness.

Historic Progress on Targeted Loan Relief

The PSLF approvals announced today are part of the Biden-Harris Administration’s broad efforts to support students and provide more than $66 billion in targeted loan relief to nearly 2.2 million borrowers so far, with more on the way. Actions include:

ED.gov. 05/08/2023.
  • Establishing a fair and accessible bankruptcy discharge process to help struggling borrowers discharge their federal student loans.
  • Providing $9.1 billion in relief for 425,000 borrowers who have a total and permanent disability.
  • Approving $14.5 billion in borrower defense claims to nearly 1.1 million borrowers whose schools were found to have cheated them out of their promised education, including extending full relief to approved claims and approving new types of claims. 
  • Providing $1.26 billion in closed school discharges to 107,000 borrowers who attended the now-defunct ITT Technical Institute, which failed to deliver on the promises it made to students.
  • Restoring eligibility for federal student aid to almost 7.5 million borrowers to help them get back on track to complete their credential or degree.

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About Tiff 2493 Articles
Member of the Free Press who is politically homeless and a political junkie.