The Biden administration unveiled a new set of plans on Monday that would eliminate student debt for millions of Americans. The administration says that, if fully implemented, it would bring the number of borrowers who've seen some or all of their debt forgiven during the president's term to more than 30 million.
The new plan, aiming to supplant an earlier version that was rejected by the U.S. Supreme Court in June, offers targeted relief to specific groups of borrowers, notably those who've carried debt for many years, and those struggling to make payments. And many borrowers, regardless of income, could see relief from high interest balances.
