"Biden's Plan: $20,000 Student Loan Forgiveness for Millions"
Originally Published 1 year ago — by CNBC
President Biden is set to unveil a new student loan forgiveness plan that aims to erase up to $20,000 in interest for millions of borrowers. The plan targets specific groups facing financial hardship and intends to "cancel runaway interest," potentially benefiting up to 25 million Americans. The proposed plan also includes forgiving the debt of certain eligible borrowers and aims to address the burden of student loan debt on low- and middle-income individuals. Biden hopes to initiate the forgiveness process before the November election through the rulemaking process.