President Joe Biden on Wednesday announced that most US university graduates still trying to pay off student loans will each get $10,000 in relief, addressing a decades-old headache of massive educational debt across the country.
"In keeping with my campaign promise, my administration is announcing a plan to give working and middle class families breathing room," Biden said in a statement issued less than three months before midterm congressional elections, where the issue is seen as a vote winner for Democrats.
The proposed debt relief falls far short of some Democrats' goal of securing complete forgiveness, but is opposed by Republicans who argue that shaving any amount from graduates' loans is unfair to those who have spent years saving to pay off their own debts.