Apr 08, 2024 - ABC News - Biden to reveal new student loan forgiveness plan
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President Biden is set to announce a new student debt relief plan that will impact millions of Americans if it goes into effect. Supreme Court struck down a previous plan. Chief White House correspondent Mary Bruce has the details. Good morning, Mary.
Good morning, George. Well, during a trip to the key battleground state of Wisconsin today, President Biden will unveil his new sweeping student loan plan, which could erase or lower debt for tens of millions of Americans.
So here is what we can expect: The plan targets runaway interest, canceling up to $20,000 for the 25 million borrowers who now owe more than they borrowed. Those making $120,000 or less a year would be eligible to have all of their interest wiped out. The plan would also eliminate debt for borrowers with at least 20-year-old loans.
Now, the rollout of this is set to begin this fall, and the White House says that combined with its previous efforts, this means that more than 30 million Americans could see relief.
Is this the president's most significant attempt to address this since the Supreme Court struck down his plan last year? But, guys, it comes as the president is eager to show voters he can make good on this pledge as we head into the November election.
Dictation
President Biden set to announce a student debt relief plan that will impact millions of Americans, if the plan goes into effect. previous plan. Mary has the detail. Good morning, Mary.
- President Biden is set to announce a new student debt relief plan that will impact millions of Americans if it goes into effect. Supreme Court struck down a previous plan. Chief White House correspondent Mary Bruce has the details. Good morning, Mary.
Good morning, George. Well, during key trip to VC today, President Biden will unveal his new sweeping student loan plan which could raise or lower debts for tens of millions of Americans.
- Good morning, George. Well, during a trip to the key battleground state of Wisconsin today, President Biden will unveil his new sweeping student loan plan, which could erase or lower debt for tens of millions of Americans.
So here is what we can expect. The plans target runaway interests cancelling up to $20000 for the 25 million borrowers who now owe more than they borrowed. Those who make $120000 or less a year will be eligible to have all of their interests weeped out. The plan would also eliminate debts for borrowers at least 20-year-old loans.
- So here is what we can expect: The plan targets runaway interest, canceling up to $20,000 for the 25 million borrowers who now owe more than they borrowed. And those making $120,000 or less a year would be eligible to have all of their interest weeped out. The plan would also eliminate debts for borrowers with at least 20-year-old loans.
Now the rollout base is set to begin this fall. The White House says it combined with previous effort. This means more than 30 million Americans see the relief.
- Now the rollout of this is set to begin this fall, and the White House says that combined with its previous effort. This means that more than 30 million Americans could see relief.
Is this the President's most significant attempt to address with the Supreme Court struck down his plan last year? But guys, it comes as the President is eager to show voters he can make good on pledge as we head into November election.
- Is this the President's most significant attempt to address this since the Supreme Court struck down his plan last year? But guys, it comes as the President is eager to show voters he can make good on pledge as we head into the November election.
Note
unveil v. 揭幕、揭牌、揭开
reveal v. 揭示、透露 n. 揭秘（影视作品最后揭开的信息）
weep v. 哭泣、掉泪；渗出液体 n. 抽咽、哭泣
wipe v. 擦拭；消灭 n. 擦拭；一次性清洁布
wipe out 消灭、销毁、一笔勾销
sweep v. 清扫；迅速平滑地移动；搜索 n. 清扫；长且迅速的弧线运动；全面搜索或调查；长且弯曲的道路、河流等；长且重的桨；风车的帆
sweeping adj. 广阔的；影响广泛的（横扫的）
rollout n. 揭幕、推出 = unveiling；飞机着陆阶段；（美式足球）一种策略，四分位传球或前进前跑向边线的策略
strike down 击倒
pledge n. 承诺；（法律）质押物；为健康的祝酒、干杯 v. 承诺；质押；为健康干杯