Hagåtña, Guam – Governor Lou Leon Guerrero and Lt. Governor Josh Tenorio issued the following statements on the announcement of the Biden Administration’s Student Debt Relief Plan:
“We welcome this announcement to bring student debt relief to millions of lower and middle-income Americans, including thousands on Guam,” said Governor Leon Guerrero. “I have instructed the staff of the Government of Guam Relief Center to work closely with the U.S. Department of Education and make the necessary preparations to provide immediate assistance relative to receiving the student debt relief. Building on our administration’s efforts to deliver meaningful aid to our island’s middle class, this latest initiative will further increase the financial security of many local households and families, and ultimately strengthens our road to recovery.”
“The skyrocketing cumulative federal student loan debt is a significant burden for many who struggle with high monthly payments and ballooning balances that make it harder for them to buy homes, build retirement funds, and start small businesses,” said Lt. Governor Tenorio. “A good education provides a strong foundation that has historically lifted people out of poverty and helped working families improve their lives. For too many college graduates, the cost of borrowing loans for school is a lifelong burden that has deprived them of gainful opportunities. The Student Debt Relief Plan will empower our community and bolster our economic progress.”
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