[ad_1] US Student Loan Relief: The race for the presidential election in America is now reaching its final stage. Before the presidential elections to be held on November 5, the White House has announced a new plan, under which the loans of millions of students will be waived off. Since college tuition fees in America run into lakhs of rupees, a large number of students study by taking student loans. However, before the end of his/her tenure, President Joe Biden is going to give a big gift to the students by waiving their loans.However, regarding the new scheme, some people say that it is a good way to help people struggling with debt, while some people have called it a gimmick to get votes. Officials preparing the plan have said that this will free 80 lakh Americans from debt. The Biden government is in the final stages of its tenure. The issue of student loan waiver is very important for this election, that is why the Biden government has come up with this plan just before the elections.Whose loans will be waived off?Through the new plan of the Biden government, America's Education Minister will be able to waive the loans of those who are likely to not repay the loan in the next two years. Students will be selected for loan forgiveness based on a number of factors, including their family income, existing debt and assets. Through this process, loan waiver will be done easily and needy people will be able to get help as soon as possible.Apart from loan waiver, a new application process has also been started under the new scheme. This is for those people who are facing problems like serious illness, debt for treatment, child care or natural disaster. Through this two-pronged strategy, we have to get out of the financial crisis those people who are troubled by sudden troubles.What is being said in political circles?A question has arisen regarding the timing of the new scheme. Critics have compared it to bribing people before elections in order to get votes. Supporters of the Biden government say that this is timely help for the people in trouble. Critics are saying that the Biden government has come up with this plan at the last moment to increase its votes. At present, lakhs of borrowers are also stuck in confusion, because a similar scheme named SAVE is still stuck in legal complications.Will student loan waiver work?How effective the US government's new loan waiver plan is depends on its implementation. The economic situation is also going to be affected due to the planning before the elections. The organization supporting student loan borrowers has supported the new plan, but it is also facing legal challenges. For now, it remains to be seen whether this scheme is able to provide relief to the people without getting entangled in legal complications, or whether it remains just a political gimmick. If this scheme is implemented, it will provide immediate relief to lakhs of people. [ad_2]
