It's official: President Biden has announced he is forgiving $10,000 in student loans for many borrowers and $20,000 per Pell Grant. He is also making major changes to your monthly student loan payment. What did the president say, and what will this all mean for you and the country? Boyd looks at what this means for everyone's wallets and why the president's actions could negatively affect the economy and Democrats' chances in the midterms.

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