Biden cancels $1.2bn in student loans

President Biden has announced the cancellation of $1.2 billion in student loans. This move has been welcomed by many struggling borrowers who have been weighed down by their student debt for years.

The President’s decision comes as a relief to millions of Americans who have been calling for student loan forgiveness. The cancellation of these loans is expected to provide a much-needed financial reprieve to individuals who have been facing economic hardships due to the ongoing pandemic.

This move is seen as a step towards addressing the growing student debt crisis in the country. It is hoped that it will help alleviate the burden on borrowers and allow them to move forward with their lives without the shackles of student loan debt holding them back.

Overall, the cancellation of $1.2 billion in student loans is a significant and positive development that will have a lasting impact on the lives of many Americans.