"Biden Set to Unveil Sweeping Student Loan Forgiveness Plan in Madison"
President Joe Biden is set to unveil a new plan to broaden student loan relief for specific categories of borrowers, nearly a year after the Supreme Court blocked his initial attempt to cancel debt for millions of college attendees. The plan, to be announced on April 8 in Madison, Wisconsin, aims to expand federal student loan relief through the Higher Education Act and is expected to be smaller and more targeted than the previous $400 billion proposal. The new plan includes categories such as resetting balances for those with snowballed interest, erasing remaining debt for long-term borrowers, and automatic loan cancellation for certain groups. This effort is part of the administration's broader initiatives to alleviate student loan debt, with previous targeted initiatives having already canceled $144 billion in student loans for almost 4 million Americans.
