US President Joe Biden on Thursday canceled another $1.2 billion in student debt for 35,000 Americans, bringing the total number of people who would benefit from his debt relief effort to 4.76 million despite of the Republican opposition.
Republicans called the Democratic president’s approach to student loan forgiveness an overreach and an unfair benefit to college-educated borrowers, while others received no such relief.
Each of the plan’s beneficiaries will receive $35,000 in debt cancellation, the White House said in a statement.
Biden, eager to shore up dwindling support among young people ahead of November’s presidential election, had pledged last year to find other avenues to address debt relief after the Supreme Court blocked his broader plan to cancel U.S. $430 billion in student loan debt.
In May, Biden canceled $7.7 billion in student debt for 160,000 borrowers.
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