"Biden Administration Set to Unveil Sweeping Student Loan Forgiveness Plan"

The Biden administration is set to announce new proposals to reduce or cancel student loan debt for millions of borrowers, following the Supreme Court's rejection of the original forgiveness program. The new proposals, expected to be more targeted, aim to ease the burden on borrowers experiencing financial hardship and those with significant interest accrual. The administration's different approach involves a formal rulemaking process and could face legal battles. The proposals could provide a political boost for President Biden, particularly among young voters and borrowers, as student loan debt remains a significant concern. Despite previous actions providing relief for certain groups of borrowers, the new proposals seek to address the broader issue of student loan debt.