Biden administration announces $39 billion in student debt relief after Supreme Court strikes down last plan

“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” Education Secretary Miguel Cardona said in a written statement.

The announcement comes after the Supreme Court struck down President Joe Biden's signature student loan forgiveness plan last month, which sought to eliminate an estimated $400 billion in student loans. Biden vowed to take additional action shortly after that decision was released, echoing early campaign promises he made in 2020 to ease student debt for millions of borrowers.

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