One key part of the Biden student loan forgiveness plan that could end "horror stories"

Although the Biden administration's plan to forgive federal student loans has centered on the government erasing $20,000 in debt, other provisions could have an even bigger impact on students and college graduates.

In perhaps the most significant change, the Department of Education is expected to propose a rule that would ensure borrowers make payments sufficient to cover the monthly interest on their student loans. That would address the problem of what is known in the trade as "negative amortization," in which a person's loan balance keeps growing despite their consistently making payments. 

Consumer advocates have long criticized so-called income-based repayment plans, which are supposed to help make student loans more manageable and which are employed by about one-third of all borrowers, for trapping borrowers in debt. The Biden plan addresses the problem by proposing to have the federal government cover unpaid monthly interest for people with income-based repayment plans, which would prevent their loan balance from growing as long as they make their monthly payments.