Biden’s backup plan for student loan debt relief is underway after Supreme Court ruling

With his ambitious student loan debt cancellation plan shattered by the Supreme Court, President Joe Biden has launched a lengthy process to cancel borrowers’ debt by other means. The president’s plan B is only beginning to take shape. But Biden said last week that the plan, rooted in the Higher Education Act of 1965, is “legally sound” and the “best path” left. Shortly after the high court delivered its ruling Friday, the federal Education Department launched a so-called negotiated rulemaking process to pursue student debt relief, according to the White House. An initial virtual public hearin...