Biden administration announces $39 billion in student debt relief for 804,000 borrowers

(The Hill) -- The Biden administration has announced that it will provide $39 billion in total student debt relief for 804,000 borrowers, its latest step since President Joe Biden’s student loan forgiveness plan was struck down by the Supreme Court. The Education Department said Friday that the relief is being provided on income-driven repayment plans, in which the federal government cancels remaining balances for the borrower after they have made their payments for 20 or 25 years.&nb