President Biden is introducing a new plan for student loan cancellation, targeting relief for over 30 million Americans. This proposal follows the Supreme Court's rejection of his initial plan, emphasizing a more focused approach to assist borrowers in need.
The new plan utilizes the Higher Education Act to justify student debt waiver, concentrating on five categories of borrowers with the most pressing financial hardships. The administration is in the process of finalizing details, including the potential cost.
#student-loan-cancellation #biden-administration #higher-education-act #financial-relief #supreme-court-decision
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