Pres. Biden touted a new pathway for debt relief that kicked into gear Wednesday for 153,000 student loan borrowers, calling it a ticket to “chase dreams” during a speech in Southern California, and highlighting a key part of his 2024 campaign strategy.
The debt relief announced on Wednesday is for those enrolled in a new student debt repayment plan rolled out this past fall, who took out a small initial balance and have been paying it down for a decade or longer.
“This action will be a huge help to graduates of community college and borrowers with smaller loans, putting them back on track faster for debt forgiveness than ever before,” Biden said.
Biden’s continued efforts to cancel debt in a more piecemeal fashion have now been reached nearly 3.9 million borrowers, which he continues to highlight on the campaign trail in an attempt to gain support from a key voting group.
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