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With 42.8 million Americans carrying federal student loan debt and an average balance per borrower of $37,853, according to the Education Data Initiative, the stakes are high.
President-elect Donald Trump is unlikely to continue many of Biden's student-debt relief efforts. Borrowers are still waiting for a final court decision on the SAVE student-loan repayment plan.
Biden's administration posted notices to withdraw its broader student-loan-forgiveness plans. Amid lawsuits, the Education Department wrote that it stands by the legality of its debt-relief plans.
Biden announced $4.28 billion in student-debt cancellation for 54,900 borrowers in Public Service Loan Forgiveness. The relief is a result of the Education Department's ongoing fixes to PSLF.
Biden's alternative student-debt relief plan could forgive loans for as many as 26 million people. ... "And it has not been happening. It is a huge mess, and it needs to be rethought and re ...
Friday’s announcement of $4.28 billion in student debt relief is expected to be the final round of public service loan forgiveness before Biden leaves office next month.