Biden pitches student loan forgiveness for millions

The latest relief plan would benefit nearly 30 million borrowers

President Joe Biden
Biden's proposal is another attempt to deliver on a key campaign promise
(Image credit: Getty Images)

What happened

President Joe Biden has announced a new program that would reduce the amount that 25 million borrowers owe on their undergraduate and graduate loans. Approximately 10 million would get at least $5,000 in student loan debt relief and more than four million would have their debt forgiven entirely, according to The White House.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Rafi Schwartz, The Week US

Rafi Schwartz has worked as a politics writer at The Week since 2022, where he covers elections, Congress and the White House. He was previously a contributing writer with Mic focusing largely on politics, a senior writer with Splinter News, a staff writer for Fusion's news lab, and the managing editor of Heeb Magazine, a Jewish life and culture publication. Rafi's work has appeared in Rolling Stone, GOOD and The Forward, among others.