Biden waives student loans

The Dhaka Times Desk US President Joe Biden has announced student loan waivers in America. Due to which students will get 10 to 20 thousand dollar loan waiver benefits. Data from Deutsche Welle.

The president of the country, Joe Biden, announced the waiver of education loans for millions of students in America. They have been asked to waive their loan of 10,000 dollars. Also, those students whose family income is less than $125,000 per year will get another $10,000 loan waiver.

According to the White House, students will have to pay the rest of the student loans at the very end of the current fiscal year. There will be no need to pay in advance. Biden said he kept another campaign promise.

On the other hand, the opposition complains that the mid-term elections of the Congress are coming in America. Joe Biden wants to bring students and young people to him by announcing loan waivers earlier. Student Debt Burden Past and present American student debt burden is $1.75 trillion. 4 crore 3 million students are distressed by the burden of this education loan. The average amount owed by everyone is $37,667.

According to the calculations of the White House, according to the measures that Biden is going to take, 2 crore students will no longer have any debt.

Biden said, two crore students will now be able to enter a carefree life. They and their families will also be freed from debt burden. They can think of buying a house or even start a business.

According to a study by Brooklyn University, Biden's debt forgiveness decision will further reduce the gap between black and white people. Blacks have an average of $25,000 in debt. Their financial situation requires them to take more education loans.

A group of Democrats demanded that at least 50 thousand dollars be forgiven. Then young people can buy houses. They can also save some money.

However, Ko Ko criticized Biden harshly. Some economists believe that Biden's debt relief decision will further increase inflation.

Republicans say that because of this, the rich will also benefit. But they should not be given this benefit. They feel that this will increase the tax burden on low income people. Democrats will also have to deal with his shock.

But the students welcomed this decision. Young people were quite angry with Biden. That's why Democrats were skeptical about getting their vote. Now they can hope to get that vote.

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