Joe Biden launches new plan to reduce student debt

Joe Biden launches new plan to reduce student debt

This is one of the important issues for Democrats in this election year: student debt. Campaigning in the key state of Wisconsin this Monday, Joe Biden announced a new plan to reduce this debt, after the failure of the first, to the great satisfaction of those concerned.

1 min

With our correspondent in Washington, Guillaume Naudin

After annulment by the Supreme Courta little less than a year ago, of his gigantic plan to reduce student debt for more than 40 million Americans, Joe Biden said he wouldn’t stop there. The American president launches several programs, less ambitious when taken one by one, so as not to be accused of abusing his authority, but which still concern 30 million people. People who drag their debt like a ball and who are defended by the Student Loan Protection Center, deplores its director of social action, Kat Wellbeck:

It really limits people’s ability to create wealth for this country, their ability to access mobility and economic opportunity. People are told to go to school to access higher education to take the social elevator. But we can clearly see that student debt is becoming a burden that prevents people from buying a house, from saving for their retirement… There are even people who deprive themselves of starting a family because they don’t know if they can afford them with their student debt. There are so many people who are struggling to make ends meet month after month on their loan, so getting relief from their debt payments is really important. »

Borrower defense organizations speak of a promise kept. A promise that dates from the 2020 campaign and this could well weigh on the vote in November.