Biden cancels $1.2bn more in student debt as vote nears

US President Joe Biden said Thursday he was extending his student loan forgiveness program by cancelling the loans of an additional 35,000 Americans as he seeks reelection.

The latest move — amounting to $1.2 billion in student debt — brings to 4.76 million the number of people “who benefitted from our various debt relief actions”, he said in a statement.

The borrowers, who will get an average of $35,000 in debt cancellation, include teachers, nurses, police officials and first responders.

The announcement came on the final day of the Republican National Convention in Milwaukee, where Donald Trump will accept the Republican nomination for the November election.

Biden vowed Thursday to “never stop working to make higher education affordable –- no matter how many times Republican elected officials try to stop us.”

Earlier this year Biden unveiled fresh plans to reduce student loan debt for tens of millions of Americans, in his bid to win over young voters.

That was after the conservative-dominated US Supreme Court last year struck down the Democrat’s earlier proposals to cancel several hundred billion dollars of debt.

Last month he cancelled debt owed by 160,000 people, while earlier in the year he announced student debt relief for 150,000 others.

AFP

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