On Wednesday, President Biden unveiled his long-awaited plan to address the nation’s astronomical student debt crisis, ending months of speculation as to if and how this administration would alleviate the hundreds of billions of dollars owed by millions of borrowers who just wanted to go to school. The plan, imperfect as it may be, is a significant one that would forgive a limited amount of debt for some borrowers, while cutting the amount and duration and interest of ongoing payments for others.
It is, in other words, a pretty good thing that will help a good chunk of the population in a very real, tangible way.
