President Joe Biden recently announced that he is looking to forgive all current student loan debt, valued at $1.6 trillion, the second largest debt held by Americans. This would be incredibly beneficial for debt holders like myself and the millions of other students across the country, the recent pause on repayments by itself has saved Americans an estimated $5 billion a month on average. A lot of Biden's supporters really empathize with this idea and Biden's team recognizes as well just how popular this idea is, it has evolved into one of the center pieces of his campaign for the future re-election. We will see how this plays out, it could be very beneficial for Biden because he can easily secure many different groups of voters who support this but the inverse is also true, he could be scaring away potential voters who were on the fence between parties, especially those who tend to be more conservative. The republicans will probably lobby whatever bill goes through congress so the best bet for debt cancellation is a slower more regulatory process, something that could bypass a lot of the legal challenges of this potential bill.
https://www.cbsnews.com/news/biden-options-forgiving-student-loan-debt/
This would have a crazy effect on voters and how it sways some people. So many different groups of people are being hurt be this problem and for it to be resolved would change the world for them.
ReplyDeleteThis would help to enormous number of people. Many people struggle to repay their loans after graduation due to low compensation in the first 1-3 years. In my opinion, it will be the best decision ever made by president Biden
ReplyDeleteForgiving student debt will benefit lots of people, especially those who are still paying it off. Personally, I am in favor of this since I would benefit, as well as several others that I know. However, I agree that this will sway voters since there are those who disagree with it.
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