President Biden's Student Loan Forgiveness Plan

President Biden announced a new plan to cancel student loan debt targeting specific borrowers through the Higher Education Act. The plan aims to benefit over 30 million Americans by canceling interest for certain groups like those who owe more than they borrowed, individuals in income repayment plans making less than $120,000 per year, and borrowers who attended programs with low financial value. The Education Department will release a formal proposal, anticipating legal pushback. This initiative prompts Christians to manage their finances wisely, balancing forgiveness considerations with financial responsibility.