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The Brian Lehrer Show

What’s in Biden’s New Student Loan Forgiveness Plan?

The Brian Lehrer Show

WNYC

Politics, News, News Commentary, Wnyc, Radio, Npr, Arts, New, Lerer, Media, Bryan, Nyc, Daily News, York, Public

4.61.5K Ratings

🗓️ 10 April 2024

⏱️ 22 minutes

🧾️ Download transcript

Summary

The White House says that President Biden’s new student loan forgiveness plan could help 30 million borrowers. Danielle Douglas-Gabriel, national higher education reporter at the Washington Post, shares her reporting and unpacks the details.

Transcript

Click on a timestamp to play from that location

0:00.0

Ryan Laird on WNYC, by the way, one tiny addendum to the last conversation we were having with

0:15.9

Liz Kim and the mayor riding the Subways listener texts. I would prefer to see all the

0:20.2

upper management of the MTA riding the Subway on listener texts, I would prefer to see all the upper management of the

0:21.2

MTA writing the subway on a daily basis. So we hear you, and that's another show.

0:27.0

On Monday, presidential Biden announced a new student loan forgiveness program that he says

0:33.6

could benefit 30 million borrowers. Relief may be on the way for people in a number of

0:38.7

categories. So listen up if you think this might apply to you or someone you know. If you owe more

0:43.6

money than the amount of your initial loan because of unpaid interest, you could have up to

0:50.5

$20,000 automatically forgiven. If you've been paying your student loans back for 20 years

0:57.4

or more, and you know we've had callers who say 20 years or more, it's shocking to people who've not

1:03.5

been in that position, you could have some or all of that money canceled. You'd be forgiven for having

1:10.4

whiplash from 202323 when the Supreme Court

1:13.0

struck down the Biden administration's last attempt at a student debt overhaul, but this plan has a

1:19.0

few key differences that the mayor hope, that the president hopes will stand up in court.

1:25.8

So it will impact the details of the plan and some of the ways

1:28.5

the Biden administration hopes to insulate it from the sort of legal attacks that the last

1:33.8

one faced. Joining us now is Danielle Douglas Gabriel, National Higher Education Reporter

1:39.6

at the Washington Post. Hey, Danielle, welcome back to WNYC. Always good to have you on. Thanks for

1:45.9

having you back. So Biden, by way of background, had previously announced a $400 billion

1:51.3

overhaul of the Student Debt Relief Program back in 2022, but the Supreme Court did strike it down.

1:58.4

I'll ask you in a minute how this new plan differs from the old,

2:01.1

but first, let's work our way through the main details of this new plan. You report that relief

...

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