The Biden administration has announced that it will forgive $39 billion in student loan debt.
804,000 federal student loan borrowers are set to have their debts automatically erased, thanks to a promise made by the Biden administration last year. The forgiveness is for borrowers who have been repaying their loans under the government’s income-driven repayment plans (IDRs). These plans cap monthly payments at a percentage of borrowers’ income, and after […]
