The Supreme Court ruled on Friday that President Joe Biden's student loan forgiveness plan cannot proceed as planned, but that doesn't mean relief isn't on the way. Just a few hours after the Supreme Court's decision, Biden revealed his backup plan to provide relief to borrowers.

There are a few different steps Biden and his administration are planning to take in order to make the resumption of student loan payments a little easier, and to eventually provide debt relief to those who need it most. Here's a rundown of the important details you need to know.

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Source Fool.com