Education Secretary Cardona: “We’re going to continue conversations around loan forgiveness”

Education Secretary Cardona: “We’re going to continue conversations around loan forgiveness”

Since taking office, the Biden Administration has approved over $9.5 billion of student loan relief, mostly for borrowers with a total and permanent disability. The amount forgiven, however, remains a small percentage of the over $1.7 trillion worth of student loans that Americans still collectively owe. In a Wednesday town hall, Education Secretary Miguel Cardona spoke with CNBC's Sharon Epperson about the Department of Education's plans for addressing a range of issues, including the student loan crisis. "Public Service Loan Forgiveness is going to be one of the major strategies that we take, especially when educators who have been serving for years routinely get turned away," said Cardona. "We need to revamp that system and make it more user-friendly. We need to keep the borrower at the center, especially for …
More on: www.cnbc.com