President Joe Biden is reportedly set to announce another effort to forgive or reduce student loan debts for millions of borrowers as the November election approaches.
Biden is set to announce the new plan in a speech in Wisconsin next week, according to the Wall Street Journal, as part of other ways he has worked to reduce student loans since the Supreme Court struck down a wide-ranging proposal Biden has pushed since the waning months of the 2022 election cycle.
The president will reportedly propose new rules under the Higher Education Act, which will have various categories for debt relief. The rulemaking process would put the timetable for when it could be implemented around the final months of the campaign, but it will likely face legal challenges.
Biden’s administration has announced $144 billion in student
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