The US Department of Education announced a new student debt relief initiativethis morning.
It’s aimed at eliminating student loan burdens for nearly 8 million borrowers with significant financial hardship.
Other borrowers will need to apply for debt relief.
The Biden administration’srecent attempts at student loan forgivenesshave faced legal backlash.
The White House’sfirst attempt at broad student loan forgivenesswas shot down by the Supreme Court last year.
