💼Student loan debt prevents young people from pursuing various careers and opportunities.
📚Addressing student loan debt should be considered a vital investment in education.
🏠Student loan debt hinders young people from buying homes and starting families.
💼By tackling student loan debt, more social workers, mental health specialists, and service providers can enter the workforce.
💸Cancelling student debt for millions will have a lifechanging impact on their financial situations.
Who is eligible for student debt relief under this plan?
—Borrowers who are enrolled in the save plan and have been paying student loans for as little as 10 years are eligible for debt relief.
How will this plan affect undergraduate borrowers?
—This plan will reduce the monthly payments for undergraduate borrowers to 5% of their discretionary income.
How many borrowers will have their loans forgiven?
—Over 150,000 borrowers will have their loans forgiven under this plan.
What is the goal of addressing student loan debt?
—The goal is to provide financial freedom and enable individuals to pursue their dreams without the burden of student loans.
How will this student debt relief plan impact the economy?
—By relieving student debt, individuals will have more financial flexibility to contribute to the economy, such as buying homes and starting businesses.
00:01President Biden announces a student debt relief plan.
03:32Dr. Jessica St Paul shares her personal experience with student loan debt.
06:12President Biden highlights the impact of student loan debt on individuals and the economy.
09:12President Biden discusses his efforts to provide student debt relief through various actions.
12:41President Biden announces the cancellation of student debt loans for over 150,000 borrowers.
