{"id":2215429,"date":"2024-04-08T09:41:02","date_gmt":"2024-04-08T13:41:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-rolls-out-new-student-loan-plan-ignoring-gop-legal-challenges\/"},"modified":"2024-04-08T09:43:47","modified_gmt":"2024-04-08T13:43:47","slug":"biden-rolls-out-new-student-loan-plan-ignoring-gop-legal-challenges","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-rolls-out-new-student-loan-plan-ignoring-gop-legal-challenges\/","title":{"rendered":"Biden introduces fresh student loan initiative despite legal obstacles from GOP"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-rolls-out-new-student-loan-plan-ignoring-gop-legal-challenges%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2215429&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President Joe Biden\u2064 introduced a plan to alleviate\u2063 student \u2064loan debt for millions of borrowers before the 2024 election. Despite initial setbacks in \u200dcourt, the White House continued its efforts, resulting in the cancellation of billions for \u200dover 4\u2062 million borrowers. Legal challenges from Republican states may impact Biden&#8217;s reelection bid,\u200d especially among young and minority voters\u2064 benefitting from the proposal.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noopener\" title>Joe Biden<\/a> unveiled a proposal to cancel or <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/red-state-ags-plot-legal-strategy-to-overturn-bidens-massive-student-debt-bailout\/\" title=\"Red State AGs Plot Legal Strategy to Overturn Biden\u2019s Massive Student Debt Bailout\">reduce <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-releases-list-of-president-trumps-accomplishments-and-it-is-historic\/\" title=\"White House Releases List of President Trump\u2019s Accomplishments \u2013  And It Is Historic!\">student loan debt<\/a><\/a> for as many as 30 million borrowers just months before the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/2024-elections\/\" target=\"_blank\" rel=\"noopener\" title>2024<\/a> general election.<\/p>\n<p>The president\u2019s first attempt at unilateral action on student loans was struck down by the Supreme Court in the summer of 2023, yet the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/white-house\/\" target=\"_blank\" rel=\"noopener\" title>White House<\/a> has taken additional steps in the subsequent months. As of Monday, the Biden administration has successfully canceled billions in loan debt for more than 4 million borrowers.<\/p>\n<p>A coalition of Republican-led states has challenged his actions in court, setting up another legal showdown that has direct implications for Biden\u2019s reelection campaign as he attempts to court voting blocs including younger voters.<\/p>\n<p>The White House said this new proposal would \u201cprovide financial stability\u201d for roughly 70% of all <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fmr-white-house-economic-adviser-kudlow-slams-sen-warrens-wealth-tax\/\" title=\"Fmr. White House economic adviser Kudlow slams Sen. Warren\u2019s wealth tax\">federal student loan borrowers<\/a>, the bulk of which are black and Latino.<\/p>\n<p>\u201cNot only are Black students more likely to take on student loans than their white peers, but they also end up holding nearly twice as much debt as their white peers four years after graduation,\u201d the White House said in a release published Monday morning. \u201cAnd Latino borrowers are also more likely to default on their student loans compared to white borrowers.\u201d<\/p>\n<p>Biden\u2019s plan would either fully eliminate or reduce debt for the following categories of borrowers, according to a fact sheet released by the White House:<\/p>\n<ul>\n<li><em>Borrowers who owe more than they did at the start of repayment<\/em><\/li>\n<li><em>Bo<\/em>rrowers <em>who are otherwise eligible for Biden\u2019s loan forgiveness initiatives but who have not yet applied<\/em><\/li>\n<li><em>Borrowers who have been paying down student loans for more than 20 years<\/em><\/li>\n<li><em>Borrowers whose loans were used to enroll in \u201clow-financial-value programs\u201d<\/em><\/li>\n<li><em>Borrowers who are experiencing \u201chardship paying back their loans,\u201d which is \u201cundermining their ability to build generational wealth, start businesses, buy homes, and more\u201d<\/em><\/li>\n<\/ul>\n<p>The White House claimed Biden\u2019s proposal would fully eliminate accrued interest for 23 million borrowers while totally eliminating remaining balances for 4 million borrowers. An additional 10 million borrowers will see reductions of $5,000 or more. <\/p>\n<p>Still, the proposal, like his first actions on student loan debt, faces an uncertain future in the courts, and it will take months for the Department of Education to finalize the rule.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>\u201cPresident Biden will use every tool available to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chuck-schumer-quietly-shutting-down-alexandria-ocasio-cortez-primary-challenge\/\" title=\"Chuck Schumer Quietly Shutting Down Alexandria Ocasio-Cortez Primary Challenge\">cancel student loan debt<\/a> for as many borrowers as possible, no matter how many times Republican elected officials try to stand in his way,\u201d White House press secretary Karine Jean-Pierre told reporters on Sunday.<\/p>\n<p>Biden is traveling on Monday to Madison, Wisconsin, where he is expected to deliver additional details on the proposal. <\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden recently announced a plan to forgive or lessen student loan debt for up to 30 million borrowers ahead of the 2024 election. His initial effort was blocked by the Supreme Court in 2023, but the White House is persisting in its quest to address this pressing issue<\/p>\n","protected":false},"author":2645,"featured_media":2215430,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24097626203025.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2215429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/04\/AP24097626203025.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2215429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2645"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2215429"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2215429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2215430"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2215429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2215429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2215429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}