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Under the new rule, loan balances will be forgiven after 10 years of payments, instead of the current 20 years under many income-driven repayment plans, for borrowers with original loan balances ...
President Biden announced another sweeping federal student loan forgiveness policy, wiping out $5.8 billion in debt for 77,700 borrowers. However, only certain borrowers will qualify ...
The Biden-Harris Administration has forgiven your federal student loan(s),” it read, ... cancel loans that are over 20 years old and assist borrowers dealing with hardships. ...
This includes $56.7 billion for 793,000 borrowers using the public service loan forgiveness program and waiver, $45.6 billion for 930,500 borrowers under income-driven repayment plans, $11.7 ...
The 82-year-old was shocked when she logged on to check her balance ahead of payments resuming in October and found that more than $175,000 in debt had been erased.
After Biden’s original student loan forgiveness proposal for up to $20,000 in relief per borrower was struck down by the Supreme Court earlier this year, his administration is working on a new plan.
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