President Joe Biden is traveling to Wisconsin to announce details of a new plan to help millions of people with their student loan debt. The Democratic president will visit Madison, the capital, on Monday, a week after primary voting in the Midwest battleground state highlighted weaknesses for him and Republican challenger Donald Trump.
FILE - President Joe Biden speaks as Education Secretary Miguel Cardona listens at the White House, June 30, 2023, in Washington. Biden is traveling to Wisconsin Monday, April 8, 2024, to announce details of a new plan to help millions of people with their student loan debt. Last year, the U.S. Supreme Court foiled Biden’s plan to provide hundreds of billions of dollars in student loan debt relief to millions.
Democratic U.S. Rep. Mark Pocan, who represents Madison in Congress, said he was struck that concerns about Israel’s war against Hamas in Gaza were top of mind among voters at five town halls over the past two weeks in more rural parts of his district. “I just want to make sure he knows that if we’re going to have a problem, that could be the problem in Wisconsin,” Pocan said.
The department laid out five categories of borrowers who would be eligible to get some or all of their federal loans canceled. The plan is focused on helping those with the greatest need, including many who might otherwise never repay their loans. The plan would automatically cancel loans for those who were in for-profit college programs deemed “low-value.” Borrowers would be eligible for cancellation if, while they attended the college, the average federal student loan payment among graduates was too high in relation to their average salary.
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