Biden administration forgives $39 billion in student loan debt to more than 800,000 borrowers

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Pennsylvania Rep. Dan Meuser and Fox News contributor Liz Peek forecast the consequences of President Biden's student loan handouts on 'The Evening Edit.'

The U.S. Department of Education announced Friday it «will begin notifying more than 804,000 borrowers that they have a total of $39 billion in Federal student loans that will be automatically discharged in the coming weeks.»

«For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,» U.S. Secretary of Education Miguel Cardona said in a statement. «Today, the Biden-Harris Administration is taking another historic step to right these wrongs and announcing $39 billion in debt relief for another 804,000 borrowers.»

«By fixing past administrative failures, we are ensuring everyone gets the forgiveness they deserve, just as we have done for public servants, students who were cheated by their colleges, and borrowers with permanent disabilities, including veterans,» Cardona added. «This Administration will not stop fighting to level the playing field in higher education.»

The Department of Education said the «forthcoming discharges are a result of fixes implemented by the Biden-Harris Administration to ensure all borrowers have an accurate count of the number of monthly payments that qualify toward forgiveness under income-driven repayment (IDR) plans.»

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Education Secretary Miguel Cardona says the Biden administration «will not stop fighting to level the playing field in higher education.» (Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

«These fixes are part of the Department’s commitment to address historical