Biden rallies younger Wisconsin voters with ‘life-changing’ student loan relief. (Part-2)

In parallel, the Department of Education is developing a broader strategy to replace Biden's. The announcement on Monday might galvanize young voters who Biden needs to defeat Trump in November.  

On Monday, Vice President Kamala Harris met with city and school employees in Philadelphia to urge debt relief in Pennsylvania, another battleground state. “You shouldn’t have to choose between serving or paying your bills,” she remarked.  

Kris Kobach, Kansas' Republican attorney general, accused Biden of trying to twist the law “beyond recognition” by shifting college tuition costs onto taxpayers who didn't take out loans.  

Conservative advocacy group Job Creators Network is also exploring legal action against Biden's idea. Republican contributor Bernie Marcus, who is hosting a Trump fundraiser in Atlanta on Wednesday, supports the organization. Trump called Biden's debt relief a “election-enhancing money grab” two years ago.  

Biden's revised plan would offer federal student loan relief to five new categories of borrowers through the Higher Education Act, which administration officials say is stronger legally than the expansive scheme overturned by a 6-3 court majority last year.  

Biden's previous plan would have canceled up to $20,000 in loans for over 40 million borrowers. The new approach is smaller and more targeted. The White House stated the new plan would cancel federal student loans for almost 30 million Americans. The Education Department will submit a formal proposal in the coming months and begin implementing sections of it this autumn.  

Those whose balances have grown due to “runaway” interest would receive up to $20,000 in interest cancellation under the scheme. Approximately 25 million borrowers would have their unpaid interest forgiven, with 23 million having all their interest wiped, according to the White House.  

An additional 2 million qualified borrowers who have not filed for other forgiveness programs like Public Service Loan Forgiveness would have their loans automatically erased. Undergraduate and graduate school loan borrowers who have repaid their loans for 20 or 25 years may have their remaining debt eliminated.  

Students in “low financial value” college programs would have their debt forgiven. It helps people in programs that became ineligible for federal student funding or defrauded students. A final group would forgive debt for struggling borrowers.  

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