Joe Biden makes major announcement on student loans as Trump election rematch nears

US President Joe Biden has announced that the government will be cancelling $6 billion in student debt for 78,000 public service workers as elections near.

Forbes reported that Biden’s decision was the latest move to reduce students’ loans through relief after the Supreme Court denied granting sweeping debt relief.

Since Biden took office in 2021, he has provided relief in student loan to around four million people, amounting to a whopping $144 billion.

The around 78,000 borrowers, who will benefit from Biden’s move, include teachers, nurses, firefighters, and Americans in other public roles.

In more than three years, Biden’s administration has forgiven loans of 870,000 public service workers, thousands more compared to Trump’s government.

It is not yet clear when the loans of those affected will be cleared. However, the president said: “Won’t back down from using every tool at my disposal to deliver student debt relief to more Americans.”