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White House Promotes Biden Cancellation Of Some Student Loan Debt

President Biden Delivers Remarks At The White House

Photo: Getty Images

The White House is promoting President Biden's cancellation of some federal student loan debt. 

Domestic policy adviser Susan Rice said it'll give borrowers relief while streamlining the business of student loans. 

She noted it also fulfills a Biden campaign pledge and eases the financial burden on millions of Americans. 

The forgiveness offers 10,000 dollars of debt relief for those earning less than 125,000 dollars per year. Those who went to college on low-income Pell Grants qualify for 20,000 dollars of debt relief. 

Senate Republican leader Mitch McConnell called it "student loan socialism." 


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