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WSJ Opinion: Potomac Watch

Biden's Other Student Loan Forgiveness Plan

WSJ Opinion: Potomac Watch

The Wall Street Journal

News, Society & Culture

4.22.8K Ratings

🗓️ 10 January 2023

⏱️ 23 minutes

🧾️ Download transcript

Summary

Joe Biden's proposal to erase $10,000 in student loans per person is on hold at the Supreme Court, but the Education Department is now moving to wipe out more debt via income-based repayment plans. Won't this give colleges an incentive to raise tuition and offer marginal degrees, and will these policies prove popular, or is there an economic and generational divide? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Tech is all around us.

0:02.0

It's always updating, competing for your attention.

0:06.0

Cut through the digital clutter, with the Wall Street Journal's Tech News Briefing,

0:11.0

the biggest tech stories and scoops from our reporting every weekday.

0:19.0

From the opinion pages of the Wall Street Journal, this is Potomac Watch.

0:24.0

With its student-alone forgiveness plans stuck at the Supreme Court,

0:28.0

President Biden moves forward with a second piece of his student,

0:32.0

Debt Bonanza. Welcome, I'm Kyle Peterson with the Wall Street Journal.

0:36.0

We are joined today by my colleague's columnist, Kim Strassel,

0:40.0

and editorial board member, Colin Levy.

0:43.0

Next month, the Supreme Court will hear oral arguments in the case against Joe Biden's plan

0:48.0

to outright forgive $10,000 per person in student loans across the board

0:53.0

for borrowers earning up to $125,000 a year.

0:58.0

And the betting now seems to be that the justices will say that the White House lacks the power

1:03.0

to spend this money that hasn't been approved by Congress.

1:06.0

But on Tuesday, the Biden administration moved forward

1:09.0

on a second piece of the President's student, Debt Agenda,

1:12.0

involving income-based repayment plans.

1:14.0

Kim, I wonder if you can just set the table for us

1:16.0

and give a sense of what the administration is proposing to do?

1:20.0

Sure, something to know, we've had income-based repayment plans

1:24.0

in the federal loan system for a long time.

...

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