Biden erases another $11 billion in student debt

Cairo: Hani Kamal El-Din


Washington: US President Joe Biden has canceled $7.4 billion ($11.4 billion) in student loan debt as he tries to win support among young voters who are disproportionately affected by rising education costs but can be moving away from his policy on Israel and the war in the Gaza Strip.

The latest round of relief is part of a White House strategy to take smaller, more targeted actions for certain subsets of borrowers after the Supreme Court struck down a much more ambitious plan to eliminate $400 billion in debt last year. .

President Joe Biden arrives at Dane County Regional Airport for an event on student loan debt in Madison, Wisconsin.Credit: AP

Biden said this week he would make another attempt at large-scale debt relief for about 30 million people, despite Republican opposition and legal challenges. But in the meantime, he has been reducing student debt by fixing and streamlining existing programs that have been plagued by bureaucratic and other problems for years.

Saturday’s announcement was the latest such measure and affected about 277,000 people. White House officials said those borrowers would be notified by email.

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