Biden's Student Loan Relief Plan Would Help Borrowers With Old Loans, Ballooning Interest

If interest has caused your student loans to balloon, you might be in luck.  Americans who owe more than they initially took out in student loans, and who are low-income or enrolled in plans that align payments to borrowers' income, may be among those eligible for debt relief from the federal government, according to a proposal the Education Department published Monday. The proposal will face a group of negotiators at a two-day meeting next week, bringing President Joe Biden’s “Plan B” for student debt relief into greater focus.