An entire generation is now saddled with unsustainable debt in exchange for an attempt at least

at a college degree. The burden is so heavy that even if you graduate, you may not have access to the middle-class life that the college degree once provided.

That's what today's announcement is about. It's about opportunity. It's about giving people a fair shot.

It's about the one word America can be defined by,

possibilities.

President Biden defends and sells his plan

to forgive student loan debt for millions of Americans.

We'll have a complete breakdown of his executive action and take a look at how it could impact the economy.

Plus, with the primary election calendar winding down, we're looking ahead to November

in the key races that could decide control of Congress.

Also ahead, new reporting on the communications between the government and Donald Trump's team before the FBI searched Mar-a-Lago.

Good morning and welcome to way too early on this Thursday, August 25th. I'm Sam Stein,

in for Jonathan Lemire. Forty-three million people are in line to have a chunk of their student

loan debt erased, and as many as 20 million could clear all student debt. Those are the figures

from the White House following an executive action yesterday by President

Biden.

President pushed back at criticism that debt cancellation will make inflation worse.

That's 20 million people who can start getting on with their lives.

All this means people can start finally crawl out from under that mountain of debt,

to get on top of the rent and the utilities,

to finally think about buying a home or starting a family or starting a business.

And by the way, when this happens, the whole economy is better off.

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