Biden Again Tries to Win Over Young Voters With New Student Loan Bailout
President Joe Biden, facing poor polling numbers for a Democratic candidate with young voters, announced another student loan bailout program this week ahead of the 2024 presidential election.
His new plan comes after the U.S. Supreme Court blocked his attempt to this last year because it was illegal.
Biden’s new plan would take taxpayer money to wipe out the student loan debt of over 30 million borrowers, the White House said. The administration said that the actions were specifically designed to provide relief to black and Latino borrowers who attended community college and who are financially vulnerable because they took out debt but never had the chance to complete their degree.
The plan would provide relief to borrowers who owe more than they did at the start of repayment; borrowers who are otherwise eligible for loan forgiveness, but have not yet applied; borrowers who first entered repayment many years ago; borrowers who enrolled in low-financial-value programs; and borrowers experiencing hardship paying back their loans.
“Today, too many Americans, especially young people, are saddled with unsustainable debts in exchange for a college degree,” Biden said from an event in Wisconsin. “The ability for working and middle class folks to repay their student loans has become so burdensome that a lot can’t repay it for even decades after being in school.” (Read more from “Biden Again Tries to Win Over Young Voters With New Student Loan Bailout” HERE)
