Nearly a year ago, President Joe Biden's sweeping one-time student loan forgiveness plan was struck down by the Supreme Court. That setback, however, hasn't kept the Biden administration from enacting a plan to forgive billions in student loans.
In 2022, the Education Department unveiled a new, incredibly generous income-driven repayment (IDR) plan that allows many students to receive federal loan forgiveness more than a decade sooner than other similar programs. Several groups sued to stop the new plan's implementation, but a federal judge ruled last week that all but three suing states didn't have standing in the case.
