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President Joe Biden will announce on Monday a new, sweeping student loan forgiveness plan, which could benefit tens of millions of Americans.
Biden will share the details of the aid package at an event in Madison, Wisconsin.
The news comes less than a year after the Supreme Court rejected his first attempt to cancel up to $20,000 in student debt per borrower. The conservative justices ruled that that effort was unconstitutional in June.
Although Biden’s Plan B for student loan forgiveness will be narrower than his initial effort, tens of millions of borrowers may still see their balances erased or lowered if the program survives legal challenges this time.