Biden Unveils New Student Debt Relief Plan to Aid Over 30 Million

The initiative aims to fulfill a 2020 campaign promise and could significantly impact the 2024 election by appealing to younger voters.

President Joe Biden has announced a new student debt relief plan aiming to benefit over 30 million people by next summer, in a move to fulfill a key 2020 campaign promise.
The plan is designed to address borrowers who have had loans for more than 20 years, those making less than $120,000 a year, and borrowers experiencing financial hardship.
More than 43 million Americans currently have federal student loan debt, totaling over $1.6 trillion, with Gen Z on track to be the most well-educated generation yet.
Critics argue the plan could be seen as a bid to win over voters, especially younger ones, ahead of the 2024 election, but supporters highlight its potential to alleviate economic disparities and boost the economy.
Despite concerns over Biden's support among young voters due to issues like his stance on Gaza, the debt relief initiative could help regain their support and influence the outcome of the 2024 election.