Biden pitches student loan forgiveness for millions
The latest relief plan would benefit nearly 30 million borrowers
What happened
President Joe Biden has announced a new program that would reduce the amount that 25 million borrowers owe on their undergraduate and graduate loans. Approximately 10 million would get at least $5,000 in student loan debt relief and more than four million would have their debt forgiven entirely, according to The White House.
Who said what
"We're giving people a chance to make it," Biden said after outlining the plan during a Monday visit to Madison in the swing state of Wisconsin. Louisiana Sen. Bill Cassidy, the ranking Republican member of the Senate Health, Education, Labor and Pensions Committee, called the plan an "unfair ploy to buy votes before an election" while doing "absolutely nothing" to address high education costs.
The commentary
The iconic college town of Madison "symbolizes the president's promise to make higher-education affordability a cornerstone of his economic agenda," The New York Times said. It's a promise he has "so far failed to achieve." Biden's latest loan forgiveness proposal is "illegal," The Wall Street Journal said, and a future Congress or administration might be able to "undo the lawless act."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What next?
Biden's proposal will almost certainly face conservative legal challenges as the legislative clock ticks down to the 2024 general election.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Rafi Schwartz has worked as a politics writer at The Week since 2022, where he covers elections, Congress and the White House. He was previously a contributing writer with Mic focusing largely on politics, a senior writer with Splinter News, a staff writer for Fusion's news lab, and the managing editor of Heeb Magazine, a Jewish life and culture publication. Rafi's work has appeared in Rolling Stone, GOOD and The Forward, among others.
-
What is NASA working on?
In Depth A running list of the space agency's most exciting developments
By Devika Rao, The Week US Published
-
'Presidential debates are more performance art than actual ways to inform'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Musk clears Tesla self-driving hurdle in China
Speed Read The Tesla CEO won China's approval to introduce Full Self-Driving (FSD) cars
By Peter Weber, The Week US Published
-
'Presidential debates are more performance art than actual ways to inform'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
'Biden is smart to keep the border-security pressure on'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
'Voters know Biden and Trump all too well'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Who will win the 2024 presidential election?
In Depth Election year is here. Who are pollsters and experts predicting to win the White House?
By Justin Klawans, The Week US Published
-
'Elevating Earth Day into a national holiday is not radical — it's practical'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Ukraine cheers House approval of military aid
Speed Read Following a lengthy struggle, the House has approved $95 billion in aid for Ukraine and Israel
By Peter Weber, The Week US Published
-
'Republicans want to silence Israel's opponents'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Poland, Germany nab alleged anti-Ukraine spies
Speed Read A man was arrested over a supposed Russian plot to kill Ukrainian President Zelenskyy
By Peter Weber, The Week US Published