The Fort Worth Press - 'Crushing': Biden unveils student debt plans to woo young voters

USD -
AED 3.673075
AFN 70.874048
ALL 87.504313
AMD 382.662988
ANG 1.790208
AOA 917.999874
ARS 1076.412304
AUD 1.613333
AWG 1.8025
AZN 1.735859
BAM 1.730222
BBD 1.979349
BDT 119.093221
BGN 1.72826
BHD 0.376859
BIF 2913.826432
BMD 1
BND 1.309877
BOB 6.771506
BRL 5.887008
BSD 0.98034
BTN 84.38307
BWP 13.826695
BYN 3.20808
BYR 19600
BZD 1.969113
CAD 1.397995
CDF 2876.999575
CHF 0.824115
CLF 0.025783
CLP 989.390009
CNY 7.3145
CNH 7.331885
COP 4370.75
CRC 504.02325
CUC 1
CUP 26.5
CVE 97.514924
CZK 22.271903
DJF 174.390827
DKK 6.63233
DOP 60.70043
DZD 132.747419
EGP 51.330602
ERN 15
ETB 129.275688
EUR 0.888215
FJD 2.294699
FKP 0.783049
GBP 0.769915
GEL 2.760244
GGP 0.783049
GHS 15.187265
GIP 0.783049
GMD 72.000236
GNF 8485.02006
GTQ 7.559517
GYD 205.050179
HKD 7.756565
HNL 25.397823
HRK 6.678203
HTG 128.02534
HUF 361.863988
IDR 16809.9
ILS 3.736403
IMP 0.783049
INR 86.157804
IQD 1284.049791
IRR 42112.503248
ISK 128.890152
JEP 0.783049
JMD 155.094385
JOD 0.708904
JPY 143.949026
KES 129.697463
KGS 87.449707
KHR 3925.593329
KMF 444.501709
KPW 900.013215
KRW 1450.05984
KWD 0.306976
KYD 0.816856
KZT 505.763905
LAK 21236.009732
LBP 87833.911382
LKR 291.18096
LRD 195.976811
LSL 19.045247
LTL 2.95274
LVL 0.60489
LYD 5.447612
MAD 9.277034
MDL 17.414885
MGA 4454.904598
MKD 54.654783
MMK 2099.267437
MNT 3510.035407
MOP 7.835499
MRU 38.780683
MUR 44.500423
MVR 15.40088
MWK 1698.448482
MXN 20.470385
MYR 4.438015
MZN 63.910009
NAD 19.044068
NGN 1590.24987
NIO 36.069272
NOK 10.769245
NPR 135.067084
NZD 1.734805
OMR 0.384954
PAB 0.979976
PEN 3.642773
PGK 3.990958
PHP 57.064497
PKR 274.973678
PLN 3.798325
PYG 7851.568721
QAR 3.571757
RON 4.421301
RSD 104.078971
RUB 83.504493
RWF 1411.572294
SAR 3.754294
SBD 8.354365
SCR 14.328411
SDG 600.499594
SEK 9.817435
SGD 1.32857
SHP 0.785843
SLE 22.780225
SLL 20969.501083
SOS 560.247387
SRD 36.939787
STD 20697.981008
SVC 8.577293
SYP 13002.318778
SZL 19.034895
THB 33.689042
TJS 10.64815
TMT 3.5
TND 2.986399
TOP 2.342099
TRY 38.060765
TTD 6.655755
TWD 32.734023
TZS 2669.999984
UAH 40.618997
UGX 3610.877736
UYU 42.089158
UZS 12716.809031
VES 77.11805
VND 25710
VUV 126.180859
WST 2.884176
XAF 579.902754
XAG 0.03195
XAU 0.000313
XCD 2.70255
XDR 0.721784
XOF 580.379926
XPF 105.505277
YER 245.297909
ZAR 19.438899
ZMK 9001.194926
ZMW 27.639752
ZWL 321.999592
  • CMSC

    -0.4500

    22.15

    -2.03%

  • RBGPF

    62.0100

    62.01

    +100%

  • GSK

    -0.8800

    33.6

    -2.62%

  • SCS

    -0.4000

    10.21

    -3.92%

  • RYCEF

    0.1400

    9

    +1.56%

  • RIO

    -0.7400

    54.87

    -1.35%

  • NGG

    0.3800

    65.59

    +0.58%

  • BCE

    -0.0200

    20.98

    -0.1%

  • BCC

    -3.7600

    94.68

    -3.97%

  • CMSD

    -0.5500

    22.2

    -2.48%

  • RELX

    0.4800

    49.02

    +0.98%

  • AZN

    -1.8900

    64.87

    -2.91%

  • VOD

    -0.1300

    8.45

    -1.54%

  • BTI

    0.3400

    40.55

    +0.84%

  • BP

    -1.6700

    26.23

    -6.37%

  • JRI

    -0.2250

    11.765

    -1.91%

'Crushing': Biden unveils student debt plans to woo young voters
'Crushing': Biden unveils student debt plans to woo young voters / Photo: © AFP

'Crushing': Biden unveils student debt plans to woo young voters

US President Joe Biden unveiled fresh plans Monday to reduce student loan debt for tens of millions of Americans, in bid to win over young voters as he seeks reelection in November.

Text size:

The conservative-dominated US Supreme Court last year struck down the Democrat's earlier proposals to cancel several hundred billion dollars of debt.

But Biden said the court -- which features three judges appointed by his Republican election rival Donald Trump -- would "never stop" his efforts to deal with the issue.

"Today too many Americans, especially young people, are saddled with unsustainable debts in exchange for college degrees," Biden said in a speech in Madison in the election swing state of Wisconsin.

"Too many people feel the strain and stress, wondering if they're going to get married, have their first child, start a family -- because even if they get by they still have this crushing, crushing debt."

The White House said the 81-year-old's plans -- unveiled while much of America was occupied watching the solar eclipse sweeping across North America -- would provide debt relief to over 30 million Americans.

The plans would wipe out accrued interest for 23 million borrowers, cancel all student debt for four million others, and give at least $5,000 in debt relief to over 10 million borrowers.

Biden now faces a race to get the plans finalized -- and past any new legal hurdles -- in time for November's election.

Younger voters helped Biden beat then-president Trump in the 2020 election, and he will need the key demographic on his side to come from behind in the polls this year.

- 'Breathing room' -

But many young and progressive voters are angered by Biden's support for Israel's war in Gaza following the October 7 Hamas attacks, and have concerns about his age.

The White House hopes the student loan plans will help win some over, given how debts of hundreds of thousands of dollars often hang over Americans for decades as they pay for their college educations.

"It means breathing room, it means freedom from feeling like your student loan bills compete with basic needs, like grocery or health care," Education Secretary Miguel Cardona told reporters.

White House Press Secretary Karine Jean-Pierre added that Biden would "use every tool available" to cancel student debt "no matter how many times Republican elected officials tried to stand in his way."

The new plans were "entirely consistent" with the court decision last year, which the White House had studied carefully, a senior administration official said.

Biden's original plan to cancel more than $400 billion of student debt was struck down by the US Supreme Court in July last year.

The court said Biden had overstepped his powers as president and should have obtained specific authorization from Congress to launch the program. Six Republican-led states had sued over the issue.

The Supreme Court has moved sharply to the right with the three judges appointed by Republican Trump while he was president, notably with the 2022 overturning of the federal right to abortion.

Biden has also made abortion a key campaign plank, accusing Trump on Monday of "scrambling" to find a policy that voters liked after the Republican said he would leave it up to states to decide.

S.Weaver--TFWP