WASHINGTON (AP) — President Joe Biden will announce his latest effort to broaden student loan relief next week for new categories of borrowers, according to three people familiar with the plans, nearly a year after the Supreme Court foiled his administration’s first attempt to cancel debt for millions who attended college.
The actual federal regulations — outlining who would qualify to get their student loan debt reduced or eliminated — are not expected to be released then, said the people, who were granted anonymity to detail a proposal not yet made public.
Still, the effort seeks to make good on Biden’s promise after the Supreme Court struck down his initial plan in June, a $400 billion proposal to cancel or reduce federal student loan debt that a majority of justices said required congressional approval.
And the fresh announcement on student loan relief, a vital issue for younger voters, could help energize parts of Biden’s political coalition who have become disillusioned over his job performance — people whose support the president will need to defeat presumptive Republican presidential candidate Donald Trump this year.
The plan that Biden will detail is set to expand federal student loan relief to new yet-targeted 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 by a 6-3 court majority last year.
“President Biden’s expected additional executive action will greatly reduce the burden of student loans for millions of Americans,” Senate Majority Leader Chuck Schumer, D-N.Y., said Friday.
The original article contains 860 words, the summary contains 258 words. Saved 70%. I’m a bot and I’m open source!
This is the best summary I could come up with:
WASHINGTON (AP) — President Joe Biden will announce his latest effort to broaden student loan relief next week for new categories of borrowers, according to three people familiar with the plans, nearly a year after the Supreme Court foiled his administration’s first attempt to cancel debt for millions who attended college.
The actual federal regulations — outlining who would qualify to get their student loan debt reduced or eliminated — are not expected to be released then, said the people, who were granted anonymity to detail a proposal not yet made public.
Still, the effort seeks to make good on Biden’s promise after the Supreme Court struck down his initial plan in June, a $400 billion proposal to cancel or reduce federal student loan debt that a majority of justices said required congressional approval.
And the fresh announcement on student loan relief, a vital issue for younger voters, could help energize parts of Biden’s political coalition who have become disillusioned over his job performance — people whose support the president will need to defeat presumptive Republican presidential candidate Donald Trump this year.
The plan that Biden will detail is set to expand federal student loan relief to new yet-targeted 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 by a 6-3 court majority last year.
“President Biden’s expected additional executive action will greatly reduce the burden of student loans for millions of Americans,” Senate Majority Leader Chuck Schumer, D-N.Y., said Friday.
The original article contains 860 words, the summary contains 258 words. Saved 70%. I’m a bot and I’m open source!