President Joe Biden will announce a plan for student debt relief during a trip to Wisconsin, a week after primary voting in the Midwest battleground revealed weaknesses for the Democratic president and his Republican challenger. The new federal rule is not expected to be issued by the time of the announcement, but Biden will highlight a plan that the Department of Education has been working on since last year.
FILE - President Joe Biden speaks as Education Secretary Miguel Cardona listens at the White House, June 30, 2023, in Washington. for millions, a trip that comes a week after primary voting in the Midwest battleground highlighted weaknesses for the Democratic president and Donald Trump, his Republican challenger.
A fresh announcement on student loan relief, an important issue for younger voters, could help energize parts of Biden's political coalition that have become disillusioned by his job performance. These are people whose support the president will need to defeat Trump in November. "I was surprised to see the intensity on the issue of Gaza coming not from a student voice out of Madison, but older voters in more rural parts of the district," Pocan said.
The plan is expected to be smaller and more targeted than his original plan, which would have canceled up to $20,000 in loans for more than 40 million borrowers. The plan's widest-reaching benefit would cancel up to $20,000 in interest for borrowers who have seen their balance grow beyond its original amount because of unpaid interest. Borrowers could get the entirety of their interest erased, with no limit, if they are enrolled in an income-drivenThat part of the plan would forgive at least some unpaid interest for an estimated 25 million borrowers, with 23 million getting all their interest erased, according to the White House.
President Biden Student Debt Relief Wisconsin Midwest Battleground Democratic President Republican Challenger Federal Rule Department Of Education
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