Biden administration moves forward with new student loan cancellation plan amid ongoing legal debate

President Biden is pursuing a new plan for student loan forgiveness after the Supreme Court rejected his first proposal.
The Department of Education is holding a series of hearings with negotiators representing diverse viewpoints to help shape the new plan.
The new plan will rely on the Higher Education Act, but there are differing legal interpretations of the education secretary's authority.
The negotiators will provide input on eligibility requirements and amount of relief under the potential new policy.
The Biden administration aims to finalize the new student debt cancellation rule sometime in 2023.