President Biden touts efforts to ease student debt, including $9B more in loan forgiveness

WASHINGTON, D.C. – President Joe Biden on Wednesday touted his administration’s efforts to address student debt, including an additional $9 billion in relief that the White House announced.

The additional relief, set to help about 125,000 Americans, brings the Biden administration’s total approved debt cancellation to $127 billion for nearly 3.6 million Americans, Biden said in remarks at the White House.

“This kind of relief is life-changing for individuals and their families, but it’s good for our economy as a whole as well. By free millions of Americans from the crushing burden of student debt, it means they can go and get their lives in order,” Biden said.

The announcement comes just days after federal student loan repayments began again for the first time in over three years — the result of the Supreme Court’s rejection in June of Biden’s pandemic-era debt relief plan, which was aimed at canceling up to $20,000 in student debt for about 43 million eligible borrowers.

Read the full report from NBC News.

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