"Biden's Rapid Push for Student Loan Forgiveness Impacts Millions"

The Biden administration has revealed a new plan to forgive student loan debt, potentially benefiting over 30 million Americans, with nearly 70% of federal student loan borrowers seeing their debt reduced or canceled. The proposals, targeting specific groups of borrowers, are still in the process of being finalized and may face legal challenges. If implemented, the Department of Education could start canceling accrued interest for qualifying borrowers as early as this fall. Despite a previous plan being struck down by the Supreme Court, the Biden administration has already canceled more student loan debt than any other president, primarily through existing programs, benefiting 4 million people with a total of $146 billion in debt relief.