The Biden administration and the U.S. Department of Education on Wednesday announced a three-part plan to help working and middle-class federal student loan borrowers transition back to regular payment as pandemic-related support expires. This plan includes loan forgiveness of up to $20,000. Many borrowers and families may be asking themselves questions like:  “What do I have to do to claim this relief?” "Will I have to pay taxes on forgiven student debt?" and "Won't this make inflation worse?"  Caleb Silver has answers to these questions and more.