A New Plan for Student Loans

President Biden’s announcement this week that he would cancel chunks of student loan debt stands to have a major impact for many of the 45 million Americans who owe $1.6 trillion for having gone to college. Who will benefit from the plan, what will the cost be to the taxpayer and the economy, and, ultimately, could the White House have done more? Guest: Stacy Cowley, a finance reporter for The New York Times.