Biden’s $140 bil­lion bailout: How Joe is prepar­ing to use stu­dent loans as a cam­paign promise again

Biden’s 0 billion bailout: How Joe is preparing to use student loans as a campaign promise again

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 loan for­give­ness since his orig­i­nal plan was blocked by the Supreme Court, but those efforts are now also fac­ing legal ch …