What Will Biden’s New Plan Mean for Borrowers Set to Begin Paying Back Their Student Loans?

Following the Supreme Court’s decision to effectively kill Biden’s earlier student debt forgiveness proposal, the White House is trying again to ease the burden on those carrying student loans using a different legal approach. Biden’s original plan would have canceled up to $20,000 in federal student loans for 43 million people. Of those, 20 million would have had their remaining student debt erased completely. With repayments set to begin in October, many borrowers are wondering if they still have to pay. Here’s what to know about where the new Biden plan stands. What is the new plan and how ismore