President Joe Biden delivers remarks on student loan debt at Madison College, Monday, April 8, 2024, in Madison, Wis. on Monday said 30 million former students will see relief under a new plan that relieves high student debt from interest and for-profit colleges, his latest attempt to wipe away college loans and woo young voters who might ditch him over his advanced age and the war in Gaza.
Senate Majority Leader Charles E. Schumer fought back Monday on the public-relations front, declaring Democrats ” relentless in doing everything we can to lower costs and make college more affordable.” Borrowers would be eligible for cancellation if, while they attended the program, the average student loan payment among graduates was too high compared with their average salary. It would also provide debt relief to students who attended for-profit universities that have since closed.
The proposal would also wipe away debt for borrowers who are eligible for loan forgiveness but have not yet applied. Almost half of voters, roughly 48%, said canceling student loan debt is an important issue to them in the presidential election, according to a poll last month by SocialSphere, a research and consulting firm.