"Biden's Student Loan Forgiveness: Who Pays and Who Qualifies?"

President Biden is attempting to cancel student loan debt for up to 25 million borrowers through a new plan that could write down balances by $5,000 to $20,000 per borrower, potentially costing the government billions in lost revenue. The plan targets people who have been paying their loans for 20 years or more, but faces challenges from both Republicans and Democrats. Critics argue that the relief primarily benefits higher-income individuals and lacks corresponding reforms to the student debt program, potentially leading to a return to prior debt levels within five years.