Biden forgives part of the student debt as a "respite" for the working classes

MADRID, 24 Ago. (EUROPA PRESS) -

The president of the United States, Joe Biden, has announced a plan to forgive part of the debt accumulated by the student community, in fulfillment of a campaign promise that now aspires to give a "breath" to the middle and working classes.

Biden has highlighted on Twitter that, with this gesture, he fulfills one of his campaign promises, with a nod to young people and vulnerable groups at a key political moment, a little over two months before the Democratic Party is played at the polls. control of Congress.

Biden's plan proposes the cancellation of 10,000 dollars in the debt acquired by all those young people who earn less than 125,000 dollars a year. In the case of those who have received public aid to pursue higher education, the pardoned money amounts to $20,000, according to the White House.

Biden has also extended the moratorium to repay the debt for another four months until the end of the year --it is the seventh extension since the start of the COVID-19 pandemic--, within a package of measures with which he wants to glimpse the reform of a system that implies for millions of people dragging the costs associated with university for years.

The US Administration estimates that 45 million citizens have debts of this type, for a total of 1.6 trillion dollars. About 16 percent of these people do not have the resources to pay for them and this burden is especially heavy on traditionally vulnerable groups, such as the black community.