As Student Loan Payments Resume, Biden Cancels $9 Billion in Debt

Latest round of assistance to help 125,000 borrowers
Biden seeking new avenues for relief after high court ruling

Error:

Could not download required scripts. Please update your browser or turn off ad blocker to continue to watch.

WATCH: Sky-rocketing tuition fees are among the roadblocks that can deter future talent from higher education.Source: Bloomberg

How easy or hard was it to use Bloomberg.com today?

Share feedback

Have a confidential tip for our reporters? Get in Touch

Before it’s here, it’s on the Bloomberg Terminal

LEARN MORE

By Akayla Gardner and Jennifer Jacobs

October 4, 2023 at 9:00 AM UTC

Updated on

October 4, 2023 at 5:40 PM UTC

This article is for subscribers only.

President Joe Biden detailed $9 billion in new student-loan relief, saying it would provide a boost to the US economy as he sought to reassure Americans resuming payments that the administration is working to ease their debt burdens.

“This kind of relief is life-changing for individuals and their families. But it’s good for our economy as a whole as well,” Biden said Wednesday at the White House.

Have a confidential tip for our reporters? Get in Touch

Before it’s here, it’s on the Bloomberg Terminal

LEARN MORE