"Biden's Student Loan Relief Plan: Key Details for Millions of Borrowers"
President Biden announced a new student loan plan aimed at providing relief to 25 million borrowers with "runaway interest" and other financial hardships, potentially forgiving up to $20,000 of their balance growth due to unpaid interest. The plan, likely to face legal challenges, follows previous executive actions that have already provided relief to millions of borrowers. Biden's push for student loan forgiveness could energize young voters ahead of the upcoming general election, with the plan set to be implemented in fall 2024.