By Elise Solé

(Excerpt)

According to NBC News, President Biden is considering relieving some of the nation’s $1.73 trillion student debt. “The president was incredibly receptive to that. He gave the impression that it’s a priority of his, and he said he understands it’s on young people’s minds,” a congressional aide told NBC. Student loan debt has a “profound” effect on borrowers, says The Center for Law and Social Policy, a Washington, D.C.-based non-profit. The organization states that debt can keep people in jobs they dislike or prevent them from buying homes or starting a family, especially among Black or low-income borrowers.

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