As President Joe Biden weighs a final decision on canceling “some” amount of federal student loan debt his aides have been working on proposals that would target the relief to certain borrowers, such as those earning less than $125,000 per year.

Those potential income limits are aimed at fending off criticism that across-the-board loan forgiveness would benefit some Americans with higher incomes who don’t need the help. But imposing income caps may carry other potential risks for the Biden administration, especially if the Education Department is unable to swiftly execute on whatever loan forgiveness Biden might announce in the coming weeks.

Read Full Article: Income-targeted student loan forgiveness invites a ‘train wreck’