Biden “Rescue as many people as possible”.

The Biden government entered college student loan relief for 800,000 people.

ABC News reported on the 15th that Americans who took out federal student loans the day before began receiving emails from lenders saying, “Your student loan has been forgiven.”

It is expected that about 800,000 students who are subject to the cancellation of student loans will receive guidance on ‘loan forgiveness’ within a few weeks. Of these, 614,000 people are expected to have their entire remaining loans forgiven, and for the rest, measures will be applied only to some of their loans.

This measure follows the student loan relief measures announced by the Biden government last month.

Targeting Americans who have participated in so-called “income-based repayment (IDR)” plans, the main point of the measure is that the federal government forgives the remaining loans after paying off the loans over 20 or 25 years, depending on the repayment plan.

Initially, the IDR itself was a program with this purpose, but the Ministry of Education and others explained that a system error caused some student loan borrowers to continue repaying their loans even after the repayment deadline.

In a statement, President Joe Biden said, “If a person who borrowed money under the IDR repays it in 20 or 25 years, the remaining balance of the loan can be forgiven, but due to a system error that started before I took office, more than 804,000 people have been affected by the IDR. “I am determined to right this wrong,” he said. “We will look for alternatives to provide student loan relief to as many people as possible,” he said.

Prior to the midterm elections in November of last year, President Biden announced a policy of cancelling student loan-related loans for up to 43 million people, up to $20,000 per person. However, the Supreme Court overruled the policy in June, saying that “the government has no authority to do so.”

The Biden government then announced follow-up measures related to student loan relief for 800,000 people. Regarding this, conservative groups recently filed a lawsuit demanding a ‘stop of implementation’, but it was dismissed the previous day because they did not qualify for the lawsuit, the Congressional media outlet The Hill reported.

President Biden’s student loan relief pledge and implementation are aimed at young voters ahead of the 2024 presidential election. As a super-close confrontation with former President Donald Trump, who is likely to have a rematch, is expected to take place, the need to target young voters who are Democratic-oriented but relatively weak in support has increased.