Biden student-debt plan hailed as ‘big step forward’ for millions of borrowers
by Erum Salam from US news | The Guardian on (#6ED2B)
Advocates say proposals that cut debt to zero for some borrowers and reduce monthly interest payments are good news
Joe Biden's new student-loan plan is an important and large step forward on student debt forgiveness in the US even after a previous debt reduction program was controversially struck down by the supreme court, advocates say.
When the justices ruled against Biden's plan to forgive up to $20,000 in federal student loans per borrower in June, 40 million debt-burdened Americans were left with questions - especially as monthly payments would resume in October after being paused for over three years because of the Covid pandemic.
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