Commentary
Is there more behind President Joe Biden’s decision to extend the student debt moratorium than votes in November?
Yes, of course. Biden’s extension of the moratorium on student debt repayments is a thinly veiled ploy to win Democratic favor with young voters in the lead-up to November’s midterms.
The president’s approval rating with voters aged 18 to 34 currently stands at an abysmal 40 percent. The total amount of outstanding student loan debt in 2021 was a whopping $1.75 trillion, with 43 percent of college attendees taking on debt for an average amount of about $41,000 per borrower. Those between the ages of 25 and 34 accounted for over $500 billion of that total.
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