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There has been several hundred billion dollars of it.

https://www.ed.gov/about/news/press-release/biden-harris-adm...

Looks like very recent proposal and the money hasn't been forgiven yet? If they had the power all along, then why wait til the week before the election?
> Looks like very recent proposal and the money hasn't been forgiven yet?

No, look down at the bottom under "A Significant Track Record of Borrower Assistance".

> If they had the power all along, then why wait til the week before the election?

Judges blocked all the other ways they tried to do it.