NEW YORK CITY -- President Biden is preparing to submit a new proposal aimed at reducing or eliminating student loan balances for millions of borrowers, marking his second attempt at large-scale loan forgiveness, The Wall Street Journal reported on Friday.
The President is planning to outline the broad guidelines of the new proposal during a speech on Monday in Madison, Wis., where he is expected to tour his administration's efforts at reducing student debt burden for millions of Americans, according to the Journal. A White House spokesman declined to comment.
