President Biden on Wednesday announced a student loan relief package designed to reduce debt for millions of Americans across the country. Current and former students, including student loans, will have $10,000-$20,000 in debt written off, depending on the type of loan.
It is estimated that 43 million Americans will receive some benefit from this new plan. This can be a good thing because people struggling to pay off their student loans probably won't pay them back in the first place. Is this a good policy? It depends on who asked you the question. If you ask a Democrat, they might say that Biden's plan doesn't do enough to help low- and middle-income Americans.
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