Biden administration launches new student loan repayment plan application

The Biden administration is launching an application for a new student loan repayment plan Tuesday as part of its latest attempt to offer relief to borrowers as payments resume despite significant political hurdles.

"This plan is a game changer for millions of Americans, many of whom are putting off having children, buying their first home, or even starting a business because they can't get out from under their student loans. Student loans will be manageable," Biden's domestic policy adviser, Neera Tanden, said.

The new plan is part of the administration's...