Biden announces $9 billion in student loan relief

President Biden on Wednesday announced another $9 billion in student debt relief. About 125,000 borrowers will benefit from the move, the latest that Biden has taken to expand student loan relief since the Supreme Court blocked his effort to cancel hundreds of billions of dollars in student debt. "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. The latest measures include $5.2 billion in relief to 53,000 people covered under Public Service Loan Forgiveness programs, and nearly $2.8 billion for 51,000 borrowers qualifying for "income-driven repayment" who have made 20 or more years of payments without "relief they were entitled to," the White House said. Reuters