Biden's Revised Student Loan Strategy: Will It Succeed?

After the Supreme Court struck down President Biden's student debt forgiveness plan, he announced a new approach to provide debt relief to millions of Americans. Biden will rely on provisions in the Higher Education Act, granting the secretary of education the power to compromise, waive, or release federal student loans. While some debt-relief advocates believe this approach is on firmer legal ground, skeptics argue that Biden's second attempt at debt relief is likely to fail, as the law does not provide him with sweeping authority over student loans. The three-year pause on federal student loan payments and interest will end soon, regardless of the outcome of Biden's new plan.