So weighed down have Americans become by student debt, and so potent a political issue has it become in the US, that President Joe Biden plans to waive interest or write off money owing by 30 million of them.
He is doing it bit by bit, in the face of resistance from the US Supreme Court. He has already axed or wound back 4.3 million debts, and on Friday cancelled 277,000 more.
The benefits, as he keeps telling anyone who will listen in the lead-up to the November election, are likely to be increased consumer spending, better mental health and credit scores for borrowers, and increased home ownership.
In Australia, Prime Minister Anthony Albanese is under pressure to do something anything for Australians under the same sort of pressure.
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Read the full article at: https://www.abc.net.au/news/2024-04-17/joe-biden-cancelling-student-debts-albanese-australia/103730132