Biden administration pushes forward on student loan relief despite Supreme Court setback

The Supreme Court struck down Biden's plan for broad student loan forgiveness, but other relief options remain.
The administration is moving ahead with a new income-driven repayment plan to lower monthly payments.
Interest rates could be reduced to zero for current borrowers under proposed legislation.
Borrowers may still qualify for loan forgiveness through existing programs.
The ruling reduces federal spending and lowers the projected budget deficit for 2022.