President Joe Biden is expected to announce a new attempt at mass student loan forgiveness, setting up another battle with Republicans as he looks to woo younger voters in the 2024 election.
It will be his second, and in some respects his third, try to make good on a 2020 campaign promise to cancel student loans, with high political and financial stakes.
“From day one of my administration, I promised to fix broken student loan programs and make sure higher education is a ticket to the middle class, not a barrier to opportunity,” Biden said on March 21. “I won’t back down from using every tool at my disposal to deliver student debt relief to more Americans and build an economy from the middle out and bottom up.”
The range and power of those tools will be fiercely debated between now and Election Day. Biden’s original student loans plan would have written off up to $20,000 in debt per borrower but was ruled illegal by the…
