"Biden's $7.4 Billion Student Loan Forgiveness Sparks Controversy and Legal Battles"

The Biden administration is set to forgive $7.4 billion in student debt for 277,000 borrowers through the new Saving on a Valuable Education (SAVE) plan, with more than 206,000 borrowers benefiting from debt erasure due to shorter repayment periods for small loan amounts, over 65,000 borrowers having their loans canceled through fixes to income-driven repayment plans, and 4,600 borrowers benefiting from improvements to the government's loan forgiveness program for public servants.