Attorney General Bonta Issues Statement on Biden Administration's Announcement of $39 Billion in Student Loan Forgiveness

OAKLAND — California Attorney General Rob Bonta today issued the following statement in response to the Biden Administration announcing $39 billion in student loan forgiveness to over 804,000 individuals. These individuals made monthly payments that should have qualified toward forgiveness under their income-driven repayment plans, but due to administrative errors, had not been counted. 

"Like so many Americans, I was profoundly disappointed when the U.S. Supreme Court ruled against the Biden Administration's historic student loan debt forgiveness plan last month. Fortunately, the Biden Administration is not letting up in its pursuit for justice for student loan borrowers. Starting today, over 804,000 individuals will be notified that they qualify for student loan forgiveness. That is welcome news. After making monthly payments toward their income-driven repayment plans for decades — either 20 or 25 years depending on the program — these borrowers will finally have some much-deserved peace of mind. The student loan servicing system has been broken for far too long and at far too high of a cost to Americans seeking higher education. I applaud the Department of Education for taking extraordinarily important steps to right those wrongs. The California Department of Justice has fought to protect student loan borrowers, including those who should have access to important income-driven repayment plans, and we will continue to fight that important battle.”