U.S. President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library on February 21, 2024 in Culver City, California.
The Biden administration will soon roll out a sweeping new student loan forgiveness proposal that could impact millions of Americans.
Despite its smaller scope than President Joe Biden's first education debt relief plan that the Supreme Court ultimately blocked, this new aid package could still forgive the debt for as many as 10 million Americans, according to one rough estimate by higher education expert Mark Kantrowitz.
Biden is planning to provide details of his new debt forgiveness plan during a speech Monday in Madison, Wisconsin, The Wall Street Journal reported on Friday.
The president likely wants to start forgiving debt for many student borrowers ahead of the election in November.
Almost half of all voters, or 48%, say canceling student loan debt is an important issue to them in the 2024 presidential and congressional elections, a recent survey found.
Forgiving student debt could especially help Biden with young voters, a demographic he's been struggling with. Around 70% of Gen Z respondents said student debt cancelation was important to them in the election.
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CO_Livn on April 6th, 2024 at 22:24 UTC »
Can they roll out a sweeping limit on student loan interest rates to stop the bullshit too? I had student loans w 2.5% rate when I graduated college. Undergrad loan rates now are 4.5-15%. 15%?!? Gtfo.
flufnstuf69 on April 6th, 2024 at 21:56 UTC »
I’ll be real I don’t like the idea of paying most payments that go solely to interest. I feel like I’m just wasting money.
CT_Phipps on April 6th, 2024 at 19:10 UTC »
Supreme Court: Trying to help Americans? THOSE WORDS ARE BLASPHEMY!