DOVER, Del.- President Joe Biden returned to his home state on Friday and appeared before hundreds of cheering students, teachers and alumni at Delaware State University to tout his student debt relief plan.
DSU President, Tony Allen, said this is the first time a United States President has visited the university.
Earlier this week, the Biden administration officially kicked off the application process for his student debt cancellation program and announced that 8 million borrowers had already applied for loan relief during the federal government’s soft launch period over the weekend.
Legal challenges to the $400 billion plan have failed and on Friday, President Biden said over 20 million Americans have now applied for student debt relief.
He said the simple application process makes all the difference.
"The vast majority are applying on their phones and it's just simply easy," said Biden. "There are no forms to upload, no special login to remember and it's available in English and Spanish, on desktop or mobile."
Eligible borrowers have until the end of 2023 to apply for loan forgiveness. It's estimated that 40 million people will qualify for the program and nearly 20 million people could see their debt erased completely.
The president also made it a point to highlight who the loan forgiveness program will benefit most.
"Let me be clear," said Biden. "Not a dime will go to the top five percent of incomes, it will go to the people who really need it."
President Biden also warned borrowers about fraud in relation to federal student loans. He encouraged people to report any fraudulent calls to reportfraud.ftc.gov.
The president also discussed other topics such as gun violence, a woman's right to choose, climate change and the nation's economic deficit.
Delaware Governor John Carney, U.S. Senators Tom Carper and Chris Coons as well as House Representative Lisa Blunt-Rochester all made their way to DSU on Friday for President Biden's address.
