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Al Jazeera
Al Jazeera

Why is the Biden administration forgiving student debt?

Joe Biden Betsy DeVos United States
US President Joe Biden pushes billions of dollars worth of debt relief for graduates [Seth Wenig/AP]

US President Joe Biden has announced a new round of federal student loan forgiveness to address the “unsustainable debt” that borrowers accumulate to complete their college education.

This move aims to help 125,000 borrowers by clearing $9bn in debt through existing programmes. Since Biden took office in 2021, a total of 3.6 million borrowers will have had $127bn in debt wiped out.

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