Biden in Wisconsin Makes the Case for Student Loan Relief

President Joe Biden visited Madison, Wisconsin, on April 8 to announce his administration’s latest attempt to forgive tens of millions of dollars of debt in student loans. He also announced a plan to “deliver up to $20,000 in interest relief to over 20 million borrowers and full forgiveness for millions more.” “Today, I’m proud to announce five major actions to continue to relieve student debt for more than 30 million Americans,” he told a cheering crowd. The stated main goal is to stop “runaway interest” faced by millions of borrowers who now owe more than what they borrowed due to the interest rates of federal student loans. The White House announced earlier today that the actions look to eliminate the accrued interest for 23 million borrowers, provide at least $5,000 in debt relief to more than 10 million borrowers, and completely eliminate the full debt amount for another 4 million....