Biden Forgives Billions In Student Debt As His Administration Seeks Ways To Deliver Broader Relief

The Biden administration announced the cancellation of $39 billion in student debt for over 800,000 borrowers related to income-driven repayment plans.
The Supreme Court struck down Biden's initial broad-based student debt relief plan, leading the administration to pursue new options.
Biden introduced the Saving on a Valuable Education (SAVE) plan to lower monthly payments and provide faster debt forgiveness for some borrowers.
The administration argues the Supreme Court ruling was wrong and vows to continue fighting to enact student debt relief.
Critics argue Biden's plans are expensive and irresponsible, with legal challenges and Republican opposition still major hurdles.