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Biden's new student loan forgiveness plan could help 30 million borrowers. Here's who would qualify.
CBSN
President Joe Biden once again is trying to deliver widespread student debt forgiveness, with a new plan unveiled on Monday that could help about 30 million borrowers erase some or all of their college loans.
The latest attempt at broad debt relief comes less than a year after the Supreme Court blocked Biden's previous attempt to help student borrowers, when the court's June 2023 ruling denied up to $20,000 in forgiveness to roughly 40 million Americans.
Biden, who had made student loan relief a major campaign pledge, unveiled the new plan on Monday, describing it as potentially "life changing" for millions of Americans. About 43 million people are carrying $1.7 trillion in student debt, a burden that some borrowers and their advocates say hampers their ability to buy a home or achieve other financial milestones.
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More than 2 million federal employees face a looming deadline: By midnight on Thursday, they must decide whether to accept a "deferred resignation" offer from the Trump administration. If workers accept, according to a White House plan, they would continue getting paid through September but would be excused from reporting for duty. But if they opt to keep their jobs, they could get fired.
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More employees of the Environmental Protection Agency were informed Wednesday that their jobs appear in doubt. Senior leadership at the EPA held an all-staff meeting to tell individuals that President Trump's executive order, "Ending Radical and Wasteful Government DEI Programs and Preferencing," which was responsible for the closure of the agency's Diversity, Equity, and Inclusion office, will likely lead to the shuttering of the Office of Environmental Justice and External Civil Rights as well.
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In her first hours as attorney general, Pam Bondi issued a broad slate of directives that included a Justice Department review of the prosecutions of President Trump, a reorientation of department work to focus on harsher punishments, actions punishing so-called "sanctuary" cities and an end to diversity initiatives at the department.