Biden Administration Cancels $39 Billion In Student Debt

President Biden is moving forward with another plan to cancel student debt.

On Friday, the Biden Administration announced that it would cancel $39 billion in debt for more than 800,000 borrowers, who will be notified in the coming weeks.

The announcement comes two weeks after the Supreme Court struck down Biden’s plan to forgive student debt for more than 3.4 million borrowers.

Education Secretary Miguel Cardona promised, “This Administration will not stop fighting to level the playing field in higher education.”

Will this new forgiveness plan face the same legal challenges?  Are you still paying off student loans?