The Supreme Court may have stuck down Biden’s initial student loan forgiveness plans, but the President’s administration has not given up.

From Fox Business. President Biden says his administration is taking “another major step” in student debt handouts as the Department of Education will start emailing tens of millions of Americans informing them of potential options heading their way around the time of the presidential election. …

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“These rules, if finalized as proposed, would bring the total number of borrowers eligible for student debt relief to over 30 million, including borrowers who have already been approved for debt cancellation by the Biden-Harris Administration over the past three years,” the department said in a statement, adding that the “email does not guarantee specific borrowers will be eligible.”

The largest group potentially seeing handouts are borrowers who now owe more money than they did at the beginning of the repayment of their loans due to what the Department of Education describes as “runaway interest.” …

Officials say one proposed rule that would assist this group would “permit automatic relief of up to $20,000 of the amount by which a borrower’s loans currently exceed what they owed upon starting repayment,” while another would allow Secretary of Education Miguel Cardona to “forgive the full amount by which a borrower saw their balance grow after entering repayment if the borrower is enrolled in any Income-Driven Repayment plan and has annual income equal to or below $120,000 if they are single or $240,000 if they are a married couple that files taxes jointly.” …

What do you think of the newest loan forgiveness plan? Share your thoughts and prayers below.

(Excerpt from Fox Business. Photo Credit: Gage Skidmore from Surprise, AZ, United States of America – Joe Biden, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=86059694)