President Biden to unveil student loan plan in Madison

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. Biden will detail the plan Monday in Madison. 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. 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. The planned announcement from Biden was first reported by the Wall Street Journal.