Biden's latest plan for student loan cancellation moves forward as a proposed regulation
President Joe Biden’s latest plan for student loan cancellation is moving forward as a proposed regulation, offering him a fresh chance to deliver on a campaign promise and energize young voters ahead of the November election
By COLLIN BINKLEY
Published - Apr 16, 2024, 08:50 AM ET
Last Updated - Apr 16, 2024, 08:50 AM EDT
WASHINGTON (AP) — President Joe Biden’s latest plan for student loan cancellation is moving forward as a proposed regulation, offering him a fresh chance to deliver on a campaign promise and energize young voters ahead of the November election.
It’s a more targeted proposal than the one the U.S. Supreme Court struck down last year. The new plan uses a different legal basis and seeks to cancel or reduce loans for more than 25 million Americans.
Conservative opponents, who see it as an unfair burden for taxpayers who didn’t attend college, have threatened to challenge it in court.
