President Joe Biden will unveil his new plan to give student loan relief to many new borrowers

By SEUNG MIN KIM
Associated Press

WASHINGTON (AP) — President Joe Biden will announce a significant new plan next week to cancel federal student loan debt for new categories of borrowers. It comes nearly a year after the Supreme Court ended his administration’s first attempt to relieve debt for millions who attended college. Biden will talk about his new plan Monday in Madison, Wisconsin. Three people with knowledge of the plans confirmed this information. The new effort is making good on Biden’s promise after the Supreme Court struck down in June his initial $400 billion proposal. A majority of justices insisted it needed congressional approval. The president called that decision a “mistake” and “wrong.”