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The first pathway would allow the department to automatically cancel a borrower's student loans if it determines, based on existing borrower data, that the borrower has at least an 80% chance of ...
The White House said Friday it approved another $4.28 billion in student debt cancellation for 54,900 additional public service workers in what could be one of the Biden Administration's final act ...
The adjustment to student loan accounts would go toward helping borrowers get closer to discharge under income-driven repayment plans, which offer discharge after 20 or 25 years of repayment ...
If the plan holds, the government will write down the student loan balances for the majority of Americans who hold them by $5,000 to $20,000. For some, that will entail the full amount of their loans.
Pell Grant recipients are eligible for up to $20,000 in canceled loans. Although Biden mentioned “checks going out,” much of the relief will come in the form of debt being canceled by loan ...
President Joe Biden has been fighting for student loan debt forgiveness over the past few years of his term. In 2023, the Supreme Court rejected his initial plan to wipe student loan debt totaling...
Biden laid out the revised plan in April after the Supreme Court nullified the administration’s original student debt forgiveness program in 2023. That plan would have benefitted 43 million ...
While the Supreme Court struck down President Joe Biden’s student loan forgiveness program in late June, a separate and significant change to the federal student loan system is moving ahead.