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Biden Unveils Additional $9 Billion in Student Debt Relief

Biden's New Measures: $9.2B More Student Debt Relief for Over 126,000 Borrowers, Aiming to Ease Financial Burden and Boost the Economy.

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Washington, Oct 4 (The Street Press) – On Wednesday, President Biden shared some good news: His team just gave the green light for an extra $9 billion to help 125,000 students with their loan payments.

Even though the Supreme Court stopped President Biden’s plan to erase a lot of student debt, he’s not giving up. He’s promising to work on new ways to help Americans with their student loans.

The President mentioned that with this latest announcement, his administration has now approved a total of $127 billion in debt relief for almost 3.6 million Americans.

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He told reporters that, this type of help can change lives for people and their families, and it’s also good for our whole economy.

According to a White House fact sheet, the new measures include:-

  • $5.2 billion more in debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs.
  • Nearly $2.8 billion in fresh debt relief for about 51,000 borrowers through improvements to “income-driven repayment.” These are borrowers who have made payments for 20 years or more but never received the relief they deserved.
  • $1.2 billion allocated for nearly 22,000 borrowers with disabilities who have been identified and approved for discharge through a data match with the Social Security Administration.

President Biden stated, “My administration is doing everything it can to deliver student debt relief to as many as we can, as fast as we can”.

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Sk Sahiluddin
Sk Sahiluddinhttps://www.thestreetpress.com
Sk Sahiluddin is a seasoned journalist and media professional with a passion for delivering accurate and impactful news coverage to a global audience. As the Editor of The Street Press, he plays a pivotal role in shaping the editorial direction and ensuring the highest journalistic standards are upheld.
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