President Joe Biden is hoping to expand his efforts to slash student debt with a $12 billion initiative in his fiscal year 2025 budget released Monday. After the Supreme Court ruled in June that Biden’s student loan forgiveness program was unconstitutional, the Department of Education announced a new costly repayment plan followed by a near $5 million handout in December. Biden proposed the $12 billion Reducing the Costs of College Fund to help finance “strategies to lower college costs for students, along with several other initiatives aimed at furthering his student loan forgiveness agenda. …