What will Biden's new plan mean for borrowers set to begin paying back their student loans?

After the Supreme Court effectively killed President Biden’s student debt forgiveness proposal, he’s trying again using a different legal approach. Biden’s original plan would have canceled up to $20,000 in federal student loans for 43 million people. Of those, 20 million would have had their remaining student debt erased completely. With repayments set to begin in October, many borrowers are wondering if they are still on the hook to pay. Here’s what to know about where the new Biden plan stands.