A federal judge has given the green light to President Biden's student loan forgiveness plan, which could provide relief for over 25 million Americans. The ruling allowed a restraining order that had previously blocked the plan to expire, marking a major victory for the Biden administration after months of legal challenges.

The plan will forgive up to $20,000 in accrued interest for borrowers, particularly targeting those with long repayment periods or high debt. Single borrowers earning less than $120,000 and couples earning less than $240,000 could see significant relief if enrolled in income-driven repayment plans.

Despite the win, Republican-led states are arguing the plan oversteps the administration's authority and could hurt taxpayers. This plan is estimated to cost $147 billion over the next decade, with millions expected to benefit when the program is finalized this fall. However, further legal battles loom as opponents may seek new injunctions to halt the relief before it can fully take effect.

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