Frustration Mounts Over Biden’s Latest Debt Relief Plans

More than 43 million student loan borrowers rang in 2023 full of hope that their debt balances would drop by either $10,000 or $20,000 under President Joe Biden’s forgiveness plan. But that promised relief never materialized after the Supreme Court struck down Biden’s plan in June, leaving borrowers in limbo until student loan payments resumed in the fall following a three-year pandemic pause. As the calendar gets ready to flip to 2024, borrowers along with student loan and consumer protection advocates are growing frustrated with the Biden administration, which is now eyeing other ways to provide relief.