Biden to Announce Student Debt Relief Plan for Millions of Americans

President Joe Biden is set to unveil new plans aimed at canceling or reducing student loan balances for millions of Americans after the Supreme Court struck down his large-scale debt forgiveness attempt last year.

The White House expects the latest proposal, when combined with previous actions taken by the administration, to benefit over 30 million Americans in total.

The president is scheduled to announce his plans on Monday during his trip to Madison, Wisconsin. He will also meet with borrowers who have benefited from his debt relief efforts.

“If these plans are finalized as proposed, altogether, this administration will begin to cancel up to $20,000 in interest for millions of borrowers and full loan forgiveness for millions more this fall,” Secretary of Education Miguel Cardona told reporters during a call.

“That’s on top of the $146 billion in student loan debt relief for 4 million Americans that we’ve already approved,” he said.

Read Full Article Here

Follow us

Read our latest news on any of these social networks!

Get latest news delivered daily!

We will send you breaking news right to your inbox


Have a tip? Let us know!

Recent Articles

  • by:
  • Source: NBC News
  • 05/09/2025
...
FDA approves at-home HPV test to screen for cervical cancer

Traditional tests are done during a pelvic exam in the doctor’s office, an experience that many women find uncomfortable.

...
Ukraine Parliament Ratifies Trump’s Rare Earths Mineral Deal

KYIV, Ukraine (AP) – Ukraine’s Parliament unanimously voted in favor of ratifying of a landmark minerals deal with the U.S. on Thursday afternoon, a lawmaker said.

...
Luigi Mangione's legal defense fund hits $1 million in donations

Organizers said the financial milestone came from over 28,000 donations, with a median contribution of $20.

...
Fed holds rates steady despite pressure from Trump

The Federal Reserve’s interest rate setting committee held rates steady Wednesday at a range of 4.25 percent to 4.5 percent, despite calls from President Trump to lower borrowing costs amid price pressures from his trade war.