Wisconsin Senator Baldwin Wants Student Debt Forgiveness for Farmers

U.S. Senators Tammy Baldwin (D-WI), Chris Murphy (D-CT), and Tina Smith (D-MN) filed legislation this week to forgive student-loan debt for new members of the agriculture industry. 

Their bill, the Student Loan Forgiveness for Farmers and Ranchers Act, would cancel significant educational debt for those qualifying as “a beginning farmer or rancher” as well as minority, women, and veteran farmers. 

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Biden Admin to Cancel $415 Million in Student Loan Debt for Roughly 16,000 People

A see of college graduates at the commencement ceremony.

The Biden administration announced Wednesday it will cancel $415 million in student debt for nearly 16,000 borrowers who claim they were misled by for-profit colleges.

The loans for almost 16,000 former students will be canceled under a legal provision called the borrower defense to repayment, which allows students to have their debts erased if they prove a for-profit school defrauded them, the Department of Education (DOE) said in a press release.

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Commentary: A Market-Driven Solution to the Student-Loan Debt Spiral

Graduation caps being thrown in the air.

It’s calculated that somewhere north of 45 million Americans have run up $1.73 trillion worth of college debt. The numbers may surprise a lot or a little, which is really not the point.

The main thing is that debt now measured in the trillions is in a sense a logical midpoint to the federal government’s unfortunate involvement in the financing of college education. “No one spends the money of others very carefully” is a truth as old as humanity (or money) is, and the trillions worth of federal student loan debt vivify this truth. We know this because the hangovers (literal and figurative) from time spent on campus continue to grow.

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Biden Administration Plans to Cancel $5.8 Billion More in Student Loan Debt

Man on macbook working

The Department of Education announced Thursday that it will cancel student loan debt for over 300,000 borrowers with severe disabilities.

The program, set to erase over $5.8 billion in total debt, will begin in September and apply to over 323,000 borrowers classified as having a “total and permanent disability” by the Social Security Administration (SSA), the Education Department announced. Borrowers will now receive automatic discharges of their debt, whereas previously needed to fill out applications.

“Today’s action removes a major barrier that prevented far too many borrowers with disabilities from receiving the total and permanent disability discharges they are entitled to under the law,” Education Secretary Miguel Cardona said in the announcement.

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