President Joe Biden announced on Monday plans to ease student debt that would benefit at least 23 million Americans, his administration said, addressing a key issue for young voters whose support he needs as he seeks re-election in November. For more ABS-CBN News videos, click the link below: https://www.youtube.com/playlist?list=PLgyY1WylJUmgUHWUpi2ioSp4xAP1SmAaf For more latest news and analysis from ABS-CBN News videos, click the link below: https://www.youtube.com/playlist?list=PLgyY1WylJUmg4pcvfM9a96rbUcLD_0P_U For more News Digital News Raw Cuts, click the link below: https://www.youtube.com/playlist?list=PLgyY1WylJUmi83yKJH8Dv0p_3D4cyZKzV Subscribe to the ABS-CBN News channel! - http://bit.ly/TheABSCBNNews Watch the full episodes of TV Patrol on iWantTFC: http://bit.ly/TVPatrol-iWantTFC Visit our website at http://news.abs-cbn.com Facebook: https://www.facebook.com/abscbnNEWS Twitter: https://twitter.com/abscbnnews #Exclusive #LatestNews #ABSCBNNews

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Hello, Wisconsin!

Hello, hello, hello!

Because this relief can be life-changing, life-changing, just as you heard from Ashley.

Folks, I will never stop to deliver student debt relief on hardworking Americans,

and it's only in the interest of America that we do it.

And again, it's for the good of our economy that's growing stronger and stronger, and it is.

By freeing millions of Americans from this crushing debt of student debt,

it means they can finally get on with their lives instead of their lives being put on hold.

And making this important center more comfortable for the kids that use it.

Today, I'm proud to announce five major actions to continue to relieve student debt

from more than 30 million Americans since I started my administration.

First, my administration will propose a new rule to cancel up to $20,000 in runaway interest

for any borrower that owes more now than when they started paying the loan.

That's a big difference.

And for low and middle class,

families enrolled in my SAVE program will cancel all of your interest.

All of your interest.

And second, we plan to cancel student debt for borrowers who still owe student loans

even though they started repaying them more than two decades ago.

Folks, third, we plan to cancel debt for about 2 million borrowers

who would be eligible for debt forgiveness through the SAVE program.

Public service loan forgiveness or other debt canceling programs.

But are not enrolled in these programs.

Some of you are only finding out after the fact as a teacher, a firefighter, or a cop

that you qualify but you just didn't know about it before.

And now people are, but you're eligible no matter how long you've been out of the program.

Fourth, we plan to cancel debt for borrowers who the Department of Education

determines were cheated by universities

that left students in unaffordable loans and delivered little in benefits to students.

And you know, you know one of those, you know one of those colleges was closed.

I won't mention it.

And finally, the Department of Education will propose a new rule to cancel student debt

for Americans facing financial hardships from child care to health care

to prevent them from paying back their loans.

And over the coming months, the Department of Education will propose

and then implement these plans.

And starting this fall, we plan to deliver up to $20,000.

$20,000 in interest relief to over 20 million borrowers

and full forgiveness for millions more.

Here in Madison and across the country.

And in the State of the Union, he called on Congress.

Because while college degree still is a ticket to the middle class,

that ticket's becoming much too expensive.

Much too expensive.

And growing the middle class.

Mr. President,

there's surely more work ahead of us.

I also want to make, and I've been pushing this,

and if I'm re-elected, I'm going to push it hard.

We're going to get it done next time.

Is I want to make community college tuition free.

So you won't need loans at all.

And cut in half the cost of going to college.

We are so excited to have President Joe Biden

and God bless you all.

And may God protect our troops.

Thank you.

Thank you.

Thank you.

Thank you.

Thank you.