President Biden's announcement to forgive up to $10,000 in federal student loan debt and up to $20,000 for Pell Grant recipients has ignited enthusiasm from progressive Democrats lawmakers. But the plan's high cost has put some moderate Democratic candidates on edge.
The Wednesday announcement builds on the momentum from Biden's summer successes of passing major legislation on climate, health care and veterans benefits. And it comes just a few months before the midterm elections — at a time when Biden's approval rating has been hovering around 38%, though according to polling from Gallup in the days just before the announcement, he's enjoying an uptick to 44%, his highest in a year.
