President Joe Biden will announce details of a new plan to ease student loan debt for millions during his visit to Madison, according to the Associated Press, which comes a week after primary voting in the Midwest battleground highlighted weaknesses for the Democratic president and Republican challenger Donald Trump.
While the new federal rule paving the way for student debt relief is not expected to be issued by the time the president speaks, Biden will highlight a plan developed by the Department of Education.
The new plan would expand federal student loan relief to new categories of borrowers through the Higher Education Act, which administration officials believe puts it on a stronger legal footing than the sweeping proposal that was killed last year.
The plan is expected to be smaller and more targeted than Biden’s original plan, which would have canceled up to $20,000 in loans for more than 40 million borrowers.
The new plan is expected to cancel some or all federal student loans for more than 30 million Americans, the White House said. The Education Department intends to issue a formal proposal in the coming months, and begin implementing parts of the plan as early as this fall.
