President Joe Biden gave a much-anticipated speech on student loans on Monday, promising tens of millions of people he would reduce or eliminate their student debt balances.
“While a college degree still is a ticket to the middle class, that ticket is becoming much too expensive,” Biden said at a technical college in Madison, Wisconsin. “In fact, things are a lot different from when college tuition was more affordable and borrowing for college — repaying those loans was more reasonable.”
President Joe Biden arrives at Dane County Regional Airport for an event on student loan debt at Madison College on Monday, April 8, 2024, in Madison, Wisconsin. (AP Photo/Evan Vucci)
To that end, Biden announced a plan that would eliminate student debt for 4 million people, eliminate accrued interest for 23 million more, and write off
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