Welcome, everybody back to the online chronicle podcast. This is episode 10. And today we'll be discussing about President Biden and his administration's efforts to forgive a portion of eligible student’s federal debt, commonly known as a student loan debts. So far Biden’s student loan has been shaped by political pressure and a barrage of criticism.
How much debt would be cancelled?
As we all know, that the graduates and a considerable amount of senators, as well as representatives, they all want to cancel student loan debt. It's not it's not clear how much we will forgive that it's, it's clear that the President wants to forgive at least $10,000 for eligible students.
So many, many in the market are seeing that this will affect our inflation that this will affect our economy. I think this is a good play for the Biden administration for reelection, or whatever it is that they seek in the future. I do see that this will bump their approval ratings.