President Donald Trump plans to announce new loan programs to help underwater borrowers, and he’s looking to expand his existing programs to make up for the funding shortfall.
Trump will announce his plans at a Tuesday afternoon news conference in Florida, the White House announced.
“I have just announced that we will be expanding the existing programs, which we announced two weeks ago, including the Pell Grant and the Homeownership Loan Program, and we are going to continue to expand the programs to cover the additional underwater borrowers we have been trying to help,” Trump said Tuesday afternoon.
The president is expected to sign the bill into law Tuesday night.
He’s been criticized by Democrats and others for not doing more to help the underwater borrowers who are struggling to make ends meet on their own.
He’s also been criticized for not taking the time to do more to get more people out of the water, as well as to help those struggling to pay back the loans they took out.