A Better Wisconsin Together Thanks President Biden for Fighting to Lower Student Loan Debt in Wisconsin

MADISON, Wis. — A Better Wisconsin Together is thanking President Joe Biden for visiting Madison today as he continues his fight to build an economy that works for all of us, which includes Biden-Harris investments that will help thousands of student loan borrowers in Wisconsin achieve more financial security.

Student loan debt has been a growing problem in Wisconsin and across the country. Students who took on the responsibility to pay for their education have been increasingly squeezed as education and job training cost skyrocketed, financial aid for eligible students lagged, and refinancing loans to take advantage of lower interest rates was not possible.

In 2023, the Biden-Harris Administration announced over $800 million in student loan relief under the Public Service Loan Forgiveness program and more than $650 million under income-driven repayment plans. These measures will benefit 14,130 and 13,380 Wisconsin borrowers and their families, respectively.

The White House also unveiled today the Biden-Harris Administration’s latest plan to prioritize communities of color and other groups disproportionately impacted by student loan debt.

In response to President Biden’s visit to the Badger State and his dedication to helping hardworking Wisconsin families get ahead, the following are statements from A Better Wisconsin Together Deputy Director Mike Browne:

“The Biden Administration’s action on lowering student loan debt is a win that all Wisconsinites can celebrate. The students who worked hard to get their education or job training deserve to support their families, not be sentenced to a lifetime of debt. 

“At a time when Wisconsin families are working harder than ever but rising costs are making it difficult to get ahead, and wealthy corporations are taking advantage of predatory price gouging, families who worked hard to get their education – and took on the personal responsibility to pay for it – will now see some much-earned help.

“Thanks to the Biden-Harris Administration, Wisconsin is one step closer to an economy that works for everyone, instead of just for a wealthy few. We appreciate President Biden for listening to the needs of Wisconsinites, taking action, and spending time in Madison to celebrate the economic strides taking place across the Badger State.”

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.