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Biden announces another $7.4 BILLION in student loan debt wiped

The White House has announced it is wiping out another $7.4 billion in student loan debt for 277,000 borrowers, bringing the total canceled by the Biden administration to $153 billion.

It is 81-year-old Biden’s second large-scale effort to forgive billions in debt in a week in a scheme critics say is a bid to ‚buy votes‘ before the general election.

On Monday, the administration rolled out a plan that would impact combined some 30 million borrowers after his first bid was blocked by the Supreme Court last year.

Now more borrowers seeing their student loan debt forgiven will receive emails informing them of the move on Friday.

‚From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us,‘ Biden said in a statement.

The debt being canceled Friday is for borrowers in three debt forgiveness programs already in use including a plan that 18 GOP-led states are suing to block.

President Biden touting his latest proposals to cancel student loan debt for millions of Americans during a visit to Madison, nhanlambangcap WI on Monday. On Friday, the administration announced it was canceling an additional $7.4 billion in debt under programs already implemented bringing the total forgiven so far to $153 billion

Nearly 207,000 borrowers are seeing some $3.6 billion in debt cancelled through President Biden’s SAVE plan, which the administration began forgiving student loan debt through earlier this year.

Another 65,000 borrowers are seeing debt wiped through administrative adjustments to the Income-Driven Repayment (IDR) plans. To date, the administration has wiped out $49 billion in debt through IDR plans.

Third, an additional 4,600 public servants are seeing their debt forgiven through the Public Service Loan Forgiveness program. 

In total, 4.3 million federal student loan borrowers have seen student loan debt forgiven since Biden took office.

‚It shows we’re relentless in what we’re doing to help millions of hardworking Americans with the burden of student loan debt,‘ Education Secretary Miguel Cardona said of the multiple rounds of debt canceled.

The Biden administration has canceled $153 billion in student loan debt through a series of efforts including the SAVE plan as well as changes to Income-Driven Repayment and Public Service Loan Forgiveness plans

The bulk of the debt being forgiven on Friday comes through the SAVE plan, an income drive repayment plan that cuts down on the amount to time and money some borrowers have to pay before their student loan debt is forgiven.

The Biden administration announced it was launching the program last summer.

In February, the White House announced the first group to see debt canceled under the plan, and the Education Department said it would continue to identify borrowers who qualify on a continuing basis.

Eight million borrowers are enrolled in the plan to date. 4.5 million of those borrowers have a monthly payment of $0, and over one million have monthly payments of less than $100, the White House said.

However, Republicans have blasted the effort to cancel debt and accuse the president of attempting to ‚buy votes‘ ahead of the election. 

They’ve called the student loan debt cancelation unfair to taxpayers who did not take on massive student loans for school or have the opportunity to go to college.

Two lawsuits have been filed by Republican state attorneys general against the Biden administration’s income-driven repayment program known as the SAVE plan

The Republican attorneys general of 18 states are suing the Biden administration over the SAVE plan. One lawsuit signed onto by eleven states was filed in Kansas on March 28 while another with seven states was filed in Missouri earlier this week.

Bill Gates reveals 3 jobs most immune to the AI takeover

While Microsoft co-founder Bill Gates remains optimistic about the social benefits of artificial intelligence, now even the billionaire mogul fears that AI could take his job. 

The candid quip came during a recent podcast conversation with OpenAI CEO Sam Altman, whose company is responsible for the AI-powered chatbot ChatGPT.

Over the years, Gates has maintained that the three best career paths for recent graduates are those in alternative energy, health biosciences, https://chungchinghecacloai.com/ and advancing artificial intelligence itself — but notably ‚billionaire philanthropist‘ is not on that list.

‚I could even lose my job,‘ Gates said on his podcast, ‚Unconfuse Me with Bill Gates.‘

‚When the machine says to me, „Bill, go play pickleball, I’ve got malaria eradication. You’re just a slow thinker,“‚ he worried, ‚then it is a philosophically confusing thing.‘

Gian Phi Kh\u00f3 L\u00e0mOver the years, Microsoft co-founder Bill Gates has maintained that the three best career paths for recent graduates are those in alternative energy, health biosciences, and advancing artificial intelligence (AI) itself — but notably ‚billionaire philanthropist‘ is not on that list 

While Gates remains optimistic about the social benefits of AI, now even the billionaire mogul fears that it could take his job. ‚When the machine says to me, ‚Bill, go play pickleball, I’ve got malaria eradication. You’re just a slow thinker […] it is a philosophically confusing thing‘

‚I was very skeptical,‘ Gates said about AI, in this conversation with Altman on the January 11, 2024 edition of his podcast. ‚I didn’t expect ChatGPT to get so good.‘

He expressed his own bewilderment with how ‚large language model‘ AIs like ChatGPT can process and imitate intricate textual information, like the works of William Shakespeare, with Altman chiming in that his team shared that confusion. 

‚When OpenAI built GPT-1, they had no deep understanding of how it worked or why it worked,‘ Altman confessed.

According to Altman, the company is now pursuing ‚interpretability research‘ in order to more fully unpack all the intricacies and complexities that machine-learning and AI-training has done alone, away from the eyes of its initial coders.