Biden forgives almost $5 billion in student debt

President Joe Biden confirmed this Friday (19) that his government has forgiven almost US$5 billion in student debt for approximately 74,000 people, in a statement released by the White House.

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As a result, student debt relief was one of the promises of Biden’s 2020 election campaign, as he prepares to run for re-election this year.

Furthermore, according to the note, the forgiven debts belonged to people with more than ten years of public service or in the process of paying off loans for more than 20 years.

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“Despite the Supreme Court’s ruling on our student debt cancellation plan, we continue to seek an alternative path to provide relief to as many borrowers as possible, as quickly as possible,” Biden said.

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