"Biden Unveils Sweeping Student Loan Forgiveness Plan Despite Supreme Court Opposition"
The Biden administration is preparing to unveil a revised student loan forgiveness plan targeting specific groups of borrowers, following the Supreme Court's rejection of its initial $400 billion proposal. The new plan is narrower and relies on the Higher Education Act for legal justification, in contrast to the previous attempt which used the Heroes Act of 2003. By utilizing the rulemaking process, the administration hopes to navigate legal challenges and provide relief to borrowers, with the proposal expected to be made public in the coming weeks.