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Biden announces $9B in student debt relief for some Americans | FULL

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U.S. President Joe Biden announced Wednesday that his administration will erase another $9 billion in student debt through existing relief programs, helping approximately 125,000 borrowers.

Biden has been relying on a patchwork of programs to help chip away at student debt. Earlier this year his effort to cancel student debt hit a snag when the U.S Supreme Court rejected his student debt relief plan.

Biden said in June his administration would move ahead with a new program to provide relief to millions of American borrowers. At the time, Biden said the Department of Education would enact a 12-month "on-ramp" for repayments, which were due to begin again in October after a three-year pause.

Republicans have fought Biden’s efforts to cancel student debt but today’s announcement comes as that party is consumed by political infighting, and after Congress voted to remove Kevin McCarthy as House Speaker.

At the start of his address Wednesday, Biden urged lawmakers to shed the “poisonous atmosphere” in Washington, D.C.

For more info, please go to https://globalnews.ca/news/9804358/scotus-student-loan-debt-relief-ruling/

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Category
U.S. & Canada
Tags
global news, student debt, student debt relief
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