Biden announces student loan relief for borrowers who need it most

U.S. President Joe Biden on Wednesday announced that most U.S. university graduates still trying to pay off student loans will get $10,000 of relief to address 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.

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.

(AFP)