'Good Luck Finding It'- Confused Borrowers Scramble for Student Debt Relief Details

President Joe Biden’s announcement that he will cancel up to $20,000 in federal student loans for qualified borrowers could help score him points with progressives and young voters while fulfilling a promise he made when running for office.

Yet there is risk that the political benefit is snuffed out by challenges ranging from a frustrating information-gathering process to understaffing at government offices and loan servicers.

Those threats are more acute because of the plan’s design: It requires most people to opt in via application, rather than receive forgiveness automatically. That helps the Biden administration enforce an income cap for eligibility, but also introduces hurdles to consumer participation and greater potential for a paperwork logjam.