Biden announces student loan debt cancellation plan
IndyTV

Millions of US graduates are getting a little relief on their student loan repayments, and it’s sending social media into overdrive.

President Joe Biden has announced plans to help those who took out federal student loans to pay for their college education, and who make less than $125,000 a year, up to $10,000 in debt.

Millions will now have $10,000 of their debts cancelled, while the pandemic-era pause on payments will continue through to 31 December.

Ben Shapiro might not be a fan, but countless people have been sharing their reactions – and the news has become an instant meme.

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Speaking on Wednesday from the Roosevelt Room at the White House, Biden spoke about the decision and recalled how his late father’s “greatest regret” was not attending college, and how he did not want his son to suffer the same fate.

“He‘d say: ‘Joey you're gonna be a college man,’ and I’d say: ‘Dad, why does that matter? I mean, you could still get fired if you're a college man’”.

Biden said his father replied: “But they can never take it away from you. They can never take your education away”.

“My dad was like millions of parents all across the country ... he believed – as I do – that education was a ticket to a better life,” he said.

“Our approach is why America’s economic recovery was faster and stronger than any other advanced nation in the world. And now it's time to address the burden of student debt the same way,” he said.

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