Biden Drops Student Debt Bomb! Millions Now Free From Crushing Burden

Biden announces new student loan forgiveness plan affecting tens of millions of Americans

President Biden has announced a new plan to forgive student loan debt for tens of millions of Americans.

This revised plan is narrower than his previous attempt, which was struck down by the Supreme Court.

The new plan targets specific borrowers, including those who: * Meet income requirements * Have already been eligible for debt cancellation under an existing government program but haven’t applied yet * Have been in repayment for 20 years or longer on undergraduate loans or 25 years or longer on graduate loans * Attended schools of questionable value * Are experiencing financial hardship Biden also announced a plan to “cancel runaway interest” for borrowers.

This means that borrowers could have up to $20,000 of unpaid interest forgiven, regardless of their income.

Certain low- and middle-income borrowers could have the entire amount of interest that has accrued on their debt since they entered repayment canceled.

The Biden administration estimates that the new plan will reach more than 30 million borrowers and clear the education debts of 4 million people.

The plan is based on a different legal justification than the previous attempt, and the Biden administration believes it will survive legal challenges.

However, it is still possible that the plan could be blocked by the courts.

The plan is estimated to reach more than 30 million borrowers and clear the education debts of 4 million people.

It is a significant step towards addressing the student loan debt crisis, which has become a major burden for many Americans.