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- For years, income-driven repayment plans for student-loan borrowers were not working as intended.
- That's why Biden introduced a proposal to reform those plans and make monthly payments cheaper.
- But implementation is key, and one expert worries it "doubles down on a failed system."
Angel, 52, has $480,000 in student debt due to a number of factors.
When Angel — who previously spoke to Insider and requested their last name be withheld for privacy — was pursuing two advanced degrees, they had to work at the same time to save money, causing them to spread out their education over the course of that decade.