Biden cancels $7.4bn student debt for 277,000 borrowers

Friday, 12 April 2024 16:28

By Reuters

The Biden administration will cancel $7.4 billion in student debt for 277,000 borrowers, the White House said in a statement on Friday.

Earlier this month, President Joe Biden announced plans to ease student debt that would benefit at least 23 million Americans, addressing a key issue for young voters whose support he needs as he seeks re-election in November.

Biden, a Democrat, last year pledged to find other avenues for tackling debt relief after the Supreme Court in June blocked his broader plan to cancel $430 billion in student loan debt.

More from International News

UN warns funding cuts threaten vital aid

The UN Refugee Agency (UNHCR) and the UN Office for the Coordination of Humanitarian Affairs (OCHA) have sounded the alarm over severe funding shortfalls that are hindering life-saving humanitarian aid in countries including Nigeria, Burundi, and Colombia.
Multiple dead in Vancouver after vehicle plows into street festival

A number of people were killed and multiple others were injured in Vancouver after a driver drove into a crowd at a Filipino street festival in the western Canadian city, police said on Saturday.
Rome and the world bid farewell to Pope Francis

Presidents, royalty and simple mourners bade farewell to Pope Francis on Saturday at a solemn funeral ceremony, where a cardinal appealed for the pontiff's legacy of caring for migrants, the downtrodden and the environment to be kept alive.
Trump, Zelenskyy meet in Vatican basilica to seek Ukraine peace

US President Donald Trump and Ukrainian leader Volodymyr Zelenskyy, in Rome for the funeral of Pope Francis, met one-on-one in a marble-lined Vatican basilica on Saturday to try to revive faltering efforts to end Russia's war with Ukraine.