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Student Debt Relief: Biden Administration Announces $39 Billion Forgiveness Plan Impacting 804,000 Borrowers

Just two weeks following a Supreme Court defeat on July 14, the administration revealed its student debt relief plan to automatically forgive $39 billion in student debt for 804,000 borrowers. (Photo: Time Free Press)
Just two weeks following a Supreme Court defeat on July 14, the administration revealed its student debt relief plan to automatically forgive $39 billion in student debt for 804,000 borrowers. (Photo: Time Free Press)

Just two weeks following a Supreme Court defeat on July 14, the administration revealed its student debt relief plan to automatically forgive $39 billion in student debt for 804,000 borrowers.

The administration's objective is to correct the previous years during which entitled borrowers did not receive the student debt relief or debt forgiveness they deserved, as the payments they made towards becoming debt-free were not properly accounted for. (Photo: Chicago Tribune)

The administration’s objective is to correct the previous years during which entitled borrowers did not receive the student debt relief or debt forgiveness they deserved, as the payments they made towards becoming debt-free were not properly accounted for. (Photo: Chicago Tribune)

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