Biden initially attempted to cancel up to $20,000 for an estimated 43 million people with incomes under $125,000. After the Supreme Court ruled he overstepped his authority, Biden asked the Education Department to craft a new plan under a different legal basis.
WASHINGTON (AP) — Americans who are struggling to repay federal student loans because of financial hardship could get some of their debt canceled under President Joe Biden’s latest proposal for widespread loan forgiveness.
Several categories of borrowers would be eligible for relief under Biden’s second try at widespread cancellation after the Supreme Court .
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