Would forgiving student debt ‘devastate’ millions, or ‘punish’ poor Americans?

Last June, the Supreme Court struck down the Biden administration’s plan to cancel student-loan debt, giving opponents and proponents of loan forgiveness the chance to square off again on a debate that’s gripped Americans for months.

In a completely separate move on Monday, the Biden administration pushed ahead with part of its broader plan to reform the student loan system, regardless. More than 800,000 student-loan borrowers will start seeing their debt canceled, the administration said.

The…