- President Joe Biden’s second plan to forgive student debt may involve fewer borrowers than his first attempt.
- The Supreme Court ruled the president didn’t have the authority to broadly clear people’s balances.
President Joe Biden speaks at the White House on June 30, 2023.
Bloomberg | Bloomberg | Getty Images
At an estimated cost of about $400 billion, Biden’s first student loan forgiveness plan would have been among the most expensive executive actions in history. Around 37 million people were slated to benefit.
Just a small share of borrowers were excluded.
In terms of income, only those…
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