• The Biden administration said it is forgiving $9 billion in student debt for 125,000 borrowers, a move that comes as student loan repayments are starting up again this month after a hiatus of more than three years.
• The debt cancellation is the latest push from the White House to erase some student loans in the wake of the Supreme Court’s June ruling. The 6-3 decision by the court’s conservative majority invalidated the administration’s plan for broad-based student loan forgiveness, which would have helped more than 40 million borrowers erase up to $20,000 each in debt.
• With that debt forgiveness plan struck down, the Biden administration has focused on other methods for relieving student debt, including creating a new income-driven debt repayment (IDR) plan as well as outright forgiveness for some qualified borrowers.

Tagged: White House