The Wall Street Journal reported that President Joe Biden is getting ready to try again to forgive a lot of student loans. In June, the Supreme Court said that the Biden administration went too far when it tried to get millions of Americans' student loans forgiven or lowered. The 6-3 vote, with right judges in the lead, killed the $400 billion plan for good.
For people making less than $125,000 a year, that plan would have forgiven up to $20,000 in student loans.
The Journal reported Friday that the government is about to make another plan because the race for president is only seven months away. The news source also said that Biden will talk about his new plan in a speech on Monday in Wisconsin, which is a swing state.
Polls show that Biden is losing support among young voters. The president's team thinks that the push for debt forgiveness could help to change that. Even Democratic adviser James Carville went on and on about how his party is losing support among young people on Sunday.
"I have made this point clear," Carville said on his show "Carville's Classroom." "It is scary how few young voters we have, especially young Black people, Latinos, and other people of color." In particular, men.
"We are not shedding them, they are leaving in the droves."
Once the new plan for loan relief is finished, it is possible that Republican attorneys general will sue it and try to get the courts to stop it.
But people in the administration say the new plan spells out specific conditions for canceling debt, which is different from the high court's more general plan.
Last week, a group of states led by Republicans sued the Biden administration to stop a new plan for making it easier for millions of people to get their loans forgiven faster and with lower monthly payments.
One of the states suing the federal government is Kansas. It says that Biden went beyond his power when he made the SAVE Plan, which was open to borrowers last year and has already canceled more than 150,000 loans.
It says the plan is the same as Biden's first try to get rid of student loans. The Journal said that the new plan from the Education Department is based on the Higher Education Act, which is a law from 1965.
The plan would include debt relief for people with low salaries and a lot of debt, as well as for people who have had debt for decades and have seen their initial loans grow because of interest that has been added on top of them, or for people who are qualified for relief through other government programs but have not applied.
For people making less than $125,000 a year, that plan would have forgiven up to $20,000 in student loans.
The Journal reported Friday that the government is about to make another plan because the race for president is only seven months away. The news source also said that Biden will talk about his new plan in a speech on Monday in Wisconsin, which is a swing state.
Polls show that Biden is losing support among young voters. The president's team thinks that the push for debt forgiveness could help to change that. Even Democratic adviser James Carville went on and on about how his party is losing support among young people on Sunday.
"I have made this point clear," Carville said on his show "Carville's Classroom." "It is scary how few young voters we have, especially young Black people, Latinos, and other people of color." In particular, men.
"We are not shedding them, they are leaving in the droves."
Once the new plan for loan relief is finished, it is possible that Republican attorneys general will sue it and try to get the courts to stop it.
But people in the administration say the new plan spells out specific conditions for canceling debt, which is different from the high court's more general plan.
Last week, a group of states led by Republicans sued the Biden administration to stop a new plan for making it easier for millions of people to get their loans forgiven faster and with lower monthly payments.
One of the states suing the federal government is Kansas. It says that Biden went beyond his power when he made the SAVE Plan, which was open to borrowers last year and has already canceled more than 150,000 loans.
It says the plan is the same as Biden's first try to get rid of student loans. The Journal said that the new plan from the Education Department is based on the Higher Education Act, which is a law from 1965.
The plan would include debt relief for people with low salaries and a lot of debt, as well as for people who have had debt for decades and have seen their initial loans grow because of interest that has been added on top of them, or for people who are qualified for relief through other government programs but have not applied.
