The Biden administration announced it will cancel $1.2 billion in student debt for 35,000 workers.
The relief is a result of the U.S. Department of Education's fixes to the Public Service Loan Forgiveness program."Once again, the Biden-Harris administration delivers on its historic efforts to reduce the burden of student debt — making needed and long overdue improvements to the Public Service Loan Forgiveness Program," U.S. Secretary of Education Miguel Cardona said in a statement., signed into law by President George W.
Often, borrowers believed they were on track to loan cancellation only to learn at some point that they didn't qualify on a technicality, such as their loan type or repayment plan.Under the Biden administration, the U.S. Department of Education gave borrowers a second chance to qualify, as long as they'd been making payments on their loans and working for an eligible employer. Borrowers were able to consolidate their loans andThe Biden administration has so far cleared $69.
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