In a significant move to garner votes in the upcoming election, President Joe Biden has announced the forgiveness of student loan debt for an additional 813,000 Americans.
This decision has brought the total debt forgiven under his administration to a staggering $127 billion, affecting 3.5 million borrowers, and putting a burden on taxpayers seldom exceeded in past history.
The beneficiaries of this debt forgiveness will receive personal email notifications from Biden. These emails not only confirm the debt relief but also emphasize the role of the Biden administration in facilitating this aid.
This bold move by Biden aligns with the upcoming 2024 election, signaling a strategy to garner support from younger voters who are significantly impacted by student loan debts.
A statement from the White House highlights the president’s dedication to providing American families with financial relief and support, especially in these challenging economic times.
Earlier in October, Biden also canceled $9 billion in student loan debt, benefiting 125,000 more borrowers. This decision came as a relief to many as student loan payments were set to resume after a pandemic-induced hiatus.
