US President Joe Biden announced his approval to cancel student debt worth another $4.8 billion for 80.3 thousand borrowers.
In a statement published by the White House on Wednesday, the US President said: “From the first day of my administration, I pledged to improve the student loan system so that higher education provides Americans with opportunity and prosperity, not the unmanageable burdens of student loan debt.”
According to the statement, this brings the total facilities approved by the US government to $132 billion for more than 3.6 million Americans. Biden also added: “I will not back down from using every tool at our disposal to provide student loan borrowers with the support they need to achieve their dreams.”
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