Monday , October 2 2023
107279990 1690908018774 gettyimages 1374044532 BIDEN SCOTUS

You may not qualify for Biden’s next student loan forgiveness plan

  • 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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