MADISON, Wisc. (NEWSnet/AP) — President Joe Biden said Monday that college graduates would see “life-changing” relief from his new plan to ease debt burdens for more than 30 million borrowers.

Biden detailed the initiative, which has been in the works for months, during a trip to Wisconsin, one of a handful of battleground states that could decide the outcome of Biden’s likely rematch with Donald Trump, the presumptive Republican nominee.

Biden said he wanted to “give everybody a fair shot” and the “freedom to chase their dreams” as he lamented the rising cost of higher education.

“Even when they work hard and pay their student loans, their debt increases and not diminishes,” he said. “Too many people feel the strain and stress, wondering if they can get married, have their first child, start a family, because even if they get by, they still have this crushing, crushing debt.”

Biden’s new debt plan would expand federal student loan relief to new categories of borrowers through the Higher Education Act, which administration officials believe puts it on a stronger legal footing than the sweeping proposal that was killed by a 6-3 court majority last year.

The plan is expected to be smaller and more targeted than Biden’s original plan, which would have canceled up to $20,000 in loans for more than 40 million borrowers.

The new plan would cancel some or all federal student loans for more than 30 million Americans, the White House said.

The Education Department plans to issue a formal proposal in the coming months, with plans to start implementing parts of the plan as early as this fall.

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