Biden To Announce New Plans To Cancel Student Loan Debt

President Biden is shortly due to deliver a speech in Maddison, Wisconsin where he will announce new plans to cancel student debt for, “tens of millions of Americans”– renewing commitment to a pledge which was struck down the Supreme Court last June. LIVESTREAM

• The White House said in a statement: “The plans, if implemented, would provide debt relief to over 30 million Americans when combined with actions the Biden-Harris Administration has already taken to cancel student debt over the past three years.” More details of the plan can be found in a fact sheet here.
• Education Secretary Miguel Cardona told reporters the announcement, “shows that we are continuing to fulfill our promises. We’re delivering as much relief as possible, for as many borrowers as possible, as quickly as possible.”
• The New York Times notes: “If Mr. Biden succeeds in putting the new plan into effect before the November election, it may help rally support among voters who were intensely disappointed that the president failed in his first plan… But the president faces steep obstacles in the legal system and the calendar.”