The Biden administration's student loan forgiveness program is set to conclude by the end of August, having erased approximately $167 billion in debt for about 5 million borrowers. The program's IDR Account Adjustment aims to rectify previous issues with income-driven repayment plans, allowing borrowers to receive credit for past loan periods that may not have counted towards forgiveness. However, recent reports indicate that many borrowers still struggle with financial burdens and accumulating new debts, despite their student loans being forgiven. A significant number of borrowers are experiencing increases in other debts, such as credit cards and auto loans, which undermines the intended financial relief. Legal challenges against the program could further complicate its implementation and affect future borrowers. While the initiative has provided some relief, it has not fully alleviated the financial pressures many borrowers face.