Biden Administration Announces New Student Loan Cancellations and Faces Legal Challenges

The Biden administration has announced a new student loan repayment plan that will benefit 206,000 borrowers, but faces legal challenges from Republican-led states. Despite this, President Joe Biden remains committed to making higher education more accessible. The new plan, part of the SAVE Plan, has already approved the cancellation of approximately 360,000 borrowers, amounting to $4.8 billion.