Biden Unveils Expanded Student Debt Forgiveness
President Joe Biden has expanded student debt relief, now allowing borrowers who have been repaying for 10 years and took out $12,000 or less to have their debt cleared.
Biden, who assumed office with significant support from young voters, revealed another 150,000 individuals would benefit from loan forgiveness.
He acknowledged the high cost of education stating, "A college degree is a ticket to a better life, but it's become too expensive." His administration has cleared $138 billion in student debt for nearly 4 million people.
Biden remarked on the positive impact of debt forgiveness, saying it liberates people to pursue their dreams. Originally aiming to erase more significant amounts of loan debt, his plans faced opposition from the Supreme Court, leading to scaled-down actions, the latest announced this Wednesday.
The recently announced plan is expected to cancel $1.2 billion in debt for 153,000 borrowers who will be informed via email. As his potential re-election campaign gears up against Donald Trump, Biden's achievements are highlighted though young voters show tepid enthusiasm for him.
Freshman Congressman Maxwell Frost contrasted Biden's efforts with Trump's, praising Biden's commitment to the issue of student debt.
A poll indicates a close race between Biden and Trump among young voters, with both candidates having more voters who plan to vote for them than those who view them favorably. Biden has a 47% young voter support compared to Trump's 45%, but only 30% of young voters view Biden favorably against 39% for Trump.
He acknowledged the high cost of education stating, "A college degree is a ticket to a better life, but it's become too expensive." His administration has cleared $138 billion in student debt for nearly 4 million people.
Biden remarked on the positive impact of debt forgiveness, saying it liberates people to pursue their dreams. Originally aiming to erase more significant amounts of loan debt, his plans faced opposition from the Supreme Court, leading to scaled-down actions, the latest announced this Wednesday.
The recently announced plan is expected to cancel $1.2 billion in debt for 153,000 borrowers who will be informed via email. As his potential re-election campaign gears up against Donald Trump, Biden's achievements are highlighted though young voters show tepid enthusiasm for him.
Freshman Congressman Maxwell Frost contrasted Biden's efforts with Trump's, praising Biden's commitment to the issue of student debt.
A poll indicates a close race between Biden and Trump among young voters, with both candidates having more voters who plan to vote for them than those who view them favorably. Biden has a 47% young voter support compared to Trump's 45%, but only 30% of young voters view Biden favorably against 39% for Trump.
