President Joe Biden will announce another wave of federal student loan forgiveness on Wednesday, according to a White House official, as borrowers brace for payments to restart after a three-year pause that began during the COVID-19 pandemic.
“President Biden has long believed that college should be a ticket to the middle class, not a burden that weighs on families,” the White House said in a statement.
He's been relying on a patchwork of different programs to chip away at debt, such as public service loan forgiveness and the SAVE Plan, which lowers payments by tying them to borrowers' income.
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