Biden says student loan forgiveness checks should be ready "in the next two weeks"

President Joe Biden
President Joe Biden

College graduates with student loan debt may soon be able to breathe a sigh of relief. It’s been a bumpy ride for borrowers the last couple of years. There have been reports that President Biden could possibly erase the burden since the 2020 election.

Earlier this month, after much back and forth, Biden partnered with the U.S. Department of Education to launch the official student loan debt relief website. Hundreds of thousands of hopefuls applied for the chance to have their debts waived and have a fresh start. Unfortunately, last week, that request was blocked by a federal appeals court.

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Like a season finale to your favorite TV show, there have been exciting new developments. Yesterday (Oct. 27), Biden said the aid would be available shortly. “We’re going to win that case. I think in the next two weeks you’re going to see those checks going out,” the president said at a press conference. Although there was mention of physical checks, according to CNN, that’s not the case. “Instead, [eligible borrowers] will see up to a $20,000 reduction in their student debt balances,” the outlet clarified.

The choice to apply it directly to the loans rather than send out checks may be for the best. Some on Twitter have already started a conversation about what could follow if that happens. “Biden really sending out a check instead of applying the amount to our student loan accounts?” one person tweeted with a picture of a kid with a sly smile. Another wrote, “If Biden sends us a check for these student loans. Lord, forgive me in advance.”

Biden has been heavily criticized by Republicans for his decision to help those needing financial assistance for education costs. However, he has remained firm in his beliefs. “Marjorie Taylor Greene got $180,000 in business loans forgiven from the PPP program but said it’s ‘completely unfair’ for us to forgive student loans for working and middle-class Americans. You can’t make this stuff up,” he tweeted on Wednesday (Oct. 26).

See related tweets below.

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