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President Joe Biden will announce on Monday the details of his new student loan forgiveness plan, which could affect tens of millions of Americans.
Immediately after the Supreme Court rejected Biden's first attempt at wide-scale education debt cancellation, the president said he would seek to forgive the loans another way.
Despite its smaller scope than Biden's first education debt relief plan, this new aid package could still lead to at least partial forgiveness for 25 million Americans, the Biden administration said.
More from Personal Finance:Why gas is so expensive in CaliforniaCredit card users face 'consequences' from falling behindAfter Biden praises progress on inflation, economists weigh inThe plan, if enacted as proposed, would cancel up to $20,000 in unpaid interest for millions of borrowers.
Persons:
Joe Biden, Biden's, Biden
Organizations:
Finance, U.S . Department of Education
Locations:
California