FOR IMMEDIATE RELEASE:
April 8, 2024
Wisconsin Coalition on Student Debt attends President Biden’s announcement of new student loan forgiveness proposals in Madison.
MADISON, Wis. – The Wisconsin Coalition on Student Debt was among invited attendees to hear President Joe Biden’s announcement of new proposed student loan forgiveness opportunities during his visit on April 8 to Madison, Wisconsin. The invitation-only event was held at the Madison College Truax Campus in Madison.
President Biden shared an overview of forthcoming proposals that would provide student loan debt relief to several targeted groups of borrowers. These proposals will aid borrowers who have accrued interest that exceeds the amount of their original student loan amounts; borrowers with remaining undergraduate loans amounts after twenty years or graduate loans from 25 years ago; borrowers who were taken advantage of by low financial benefit schools, those who qualify under existing loan forgiveness program plans and borrowers experiencing financial hardships that challenge their ability to repay their loans.
“As advocates for Wisconsin’s 735,000 student loan borrowers, the Coalition was honored to be invited to attend this official announcement,” said Interim Executive Director Dr. Carole Trone. “We’ll look with interest for the forthcoming federal notice and public commentary to learn more about how these proposals will work and which Wisconsin borrowers may be eligible.”
The student loan repayment landscape has changed considerably in recent years, with new Income Driven Repayment plans and more forgiveness granted for eligible borrowers through existing programs such as Public Service Loan Forgiveness (PSLF). The Coalition stresses how important it is for Wisconsin borrowers to be aware of these new programs and to know how to determine the best repayment or forgiveness program in their particular situation.
The Coalition hosts a free, confidential student loan helpline from 8:00am to 4:30pm Monday through Friday. Borrowers may call or email their questions for an expert response. The helpline phone number is 833-589-0750 or email at studentloanquestions@debtsmarts.org. Borrowers can stay informed through monthly webinars and a newsletter that shares upcoming free events and resources, all available through the Coalition website: debtsmarts.org.
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Media Contact Email: Carole Trone at carole@debtsmarts.org or 608-960-9681