US Markets
Friday, September 29th, 2023 2:20 pm EDT
Key Points
- The Biden administration announced on Friday the next step in its new plan to cancel people’s student debt.
- The Supreme Court struck down the original policy in June.
- It appears that the administration will focus on certain groups of borrowers in its new plan, including those suffering from financial hardship.
The Biden administration has unveiled a revised strategy to address student debt after the Supreme Court rejected its initial policy in June. The U.S. Department of Education has outlined the key elements of this new plan, which centers on specific groups of borrowers, such as individuals facing financial difficulties or those who entered loan repayment many years ago. This effort reflects the administration’s commitment to providing relief to Americans burdened by student loans.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/09/29/biden-administration-moves-ahead-with-new-plan-to-cancel-student-debt.html
