Building on President Joe Biden’s student debt cancellation plan, House Democrats on Thursday proposed new legislation that would increase federal student aid, lower interest rates on loans and take other steps to make college more affordable.
The bill is being pushed as a complement to Biden’s plan, which promises to wipe away student debt for millions of Americans but does little to help future students avoid heavy levels of debt. Democrats say their plan would tackle the root causes behind America’s $1.6 trillion in federal student debt.
