"Biden's Student Loan Forgiveness Plan: Impact on 23 Million Americans and Tax Implications"

President Joe Biden announced plans to ease student debt, potentially benefiting at least 23 million Americans by cancelling up to $20,000 of accrued and capitalized interest for borrowers, regardless of income. The move aims to address a key issue for young voters and progressive supporters, with the administration estimating it would eliminate the entirety of that interest for 23 million borrowers. Biden also expressed his commitment to delivering student loan relief and pushing for free community college if re-elected in November.