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Hours after the Supreme Court struck down his student-debt relief plan, President Joe Biden announced that he would look to cancel debt en masse via other means. But whether borrowers’ wallets feel the impact of the announcement will depend on its implementation, experts say.
The court ruled Friday that the Biden administration doesn’t have the authority to cancel student debt under the HEROES Act, a 2003 law that allows the secretary of education to waive or modify student loans during a national emergency. Now, Biden said,…
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