What borrowers should know about the Biden administration's student loan debt forgiveness

The Biden administration announced it will cancel some federal student loan debt and that it will continue the pause on repayment through the end of the year.

The news has brought relief to millions of borrowers. Here & Now's Scott Tong goes over who qualifies, what borrowers should be doing during the pause, and what more could be done to reform the student loan system and address the growing cost of college with Betsy Mayotte, founder of The Institute of Student Loan Advisors.