Senate Blocks Biden's Student Debt Forgiveness Plan, Navient and Other Stocks Rise.

Sen. Kyrsten Sinema, along with two Democratic colleagues, voted with Republicans to block President Joe Biden's plan to forgive up to $20,000 in student debt for those making less than $125,000 annually. Sinema has backed alternate plans to make student loans more affordable, calling Biden's plan unrealistic and unfair. The debt-ceiling deal between Biden and House Speaker Kevin McCarthy requires restarting collection of such debts later this year, and if the student debt pause ends, it will restart payment obligations for at least 30 million people.