Madison, United States: US President Biden announced new plan to reduce student loan debt for millions of Americans in bid to win over young voters.
The conservative-dominated US Supreme Court last year struck down an earlier Democratic proposal to cancel hundreds of billions of dollars in debt.
But Biden said the court, which includes three judges appointed by Republican presidential rival Donald Trump, would “absolutely not stop” its efforts to resolve the issue.
“Too many Americans today, especially young people, are saddled with endless debt instead of a college degree,” Biden said in a speech in Madison, Wisconsin.
“Many people feel the challenge and stress of getting married, having their first child, or starting a family because they have debt to overcome those challenges.”
White said the 81-year-old plan, launched just as many Americans were busy watching a solar eclipse sweep across North America, would provide loans to more than 30 million Americans.
The plan would eliminate accrued interest for 23 million borrowers, cancel all student debt for four million people, and provide loans of at least $5,000 to more than 10 million borrowers.
Biden is now racing to finalize plans and clear new legal hurdles for the November election.
The turnout helped Biden beat then-President Trump in the 2020 election, and he needs key demographics for his party to hold this year’s election.
