Biden administration to cancel another $1.2 billion of trainee loans
© Reuters. U.S. President Joe Biden approaches members of the news media to provide a declaration before boarding Marine One for travel to California from the South Lawn of the White House in Washington, U.S., February 20, 2024. REUTERS/Leah Millis
By Trevor Hunnicutt and Jeff Mason CULVER CITY, California/WASHINGTON (Reuters) -President Joe Biden stated on Wednesday his administration is cancelling $1.2 billion worth of trainee loans for almost 153,000 individuals who are qualified under a program utilized to make great on his guarantees to increase loan forgiveness. Biden, a Democrat, in 2015 vowed to discover other opportunities for taking on financial obligation relief after the Supreme Court in June obstructed his more comprehensive strategy to cancel $430 billion in trainee loan f...