Mixed Reactions As Biden Forgives Millions Of Student Loans
August 25, 2022
5:19 am
President Joe Biden yesterday announced that the U.S. government will forgive $10,000 in student loans for millions of former college students who are presently debt-saddled, keeping a pledge he made in the 2020 campaign for the White House.
Africa Daily News, New York gathered that the move could go on to boost support for his fellow Democrats ahead of the November congressional elections, but some economists said it may fuel inflation and some Republicans in the U.S. Congress questioned whether the president had the legal authority to cancel the debt.
Debt forgiveness will free up hundreds of billions of dollars …
