The Biden administration has found a way to keep forgiving student loans

The Biden Administration is set to enact another suite of student loan forgiveness, aimed at borrowers who have consistently made loan payments and currently have balances below $12,000. Last week, Education Department Secretary Miguel Cardona announced that the department would be fast-tracking a wave of debt relief originally slated for July. The forgiveness will occur as part of the larger rollout of the new Saving on a Valuable Education (SAVE) plan—an extremely generous loan repayment plan targeted at lower-income borrowers. The SAVE plan is an income-driven repayment plan, which was...