Earlier this month, the U.S. Supreme Court blocked President Joe Biden’s $400 billion plan to cancel or reduce federal student loan debts for millions of Americans.
However, the Biden administration is continuing its efforts to provide relief for borrowers.
Last week, the president announced that more than 800,000 student loan borrowers who have been repaying their loans for 20 or more years would automatically have their remaining student loan debt canceled, equaling a total of $39 billion in relief.
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