Biden to announce student loan forgiveness plan

US President Joe Biden is set to announce $10,000 federal student loan cancellation. (AP)Premium
US President Joe Biden is set to announce $10,000 federal student loan cancellation. (AP)
 wsj 4 min read . Updated: 24 Aug 2022, 09:00 PM IST Andrew Restuccia, The Wall Street Journal

The Biden administration is nearing a decision on student-loan forgiveness, an issue that could affect millions of Americans and reverberate in the coming midterm elections. Here are some of the key challenges complicating the final decision

President Biden is planning to take executive action to forgive $10,000 or more in federal student loan debt for tens of millions of Americans, a move that would provide unprecedented relief for borrowers but is certain to draw political and legal challenges.