President Biden plans to announce a student loan relief program in Madison, Wisconsin, targeting over 30 million borrowers. The plan aims to cancel debt for those facing financial difficulties, eligible for forgiveness programs, with high loan balances due to interest, or impacted by certain circumstances like college closures.
The proposed plan is the most extensive debt forgiveness initiative since 2022, with potential debt cancellation up to $20,000. The Department of Education seeks to provide relief through rulemaking, erasing interest for 23 million borrowers and principal balances for over 4 million borrowers.
#student-loan-relief #debt-cancellation #biden-administration #higher-education-act #department-of-education
[
add
]
[
|
|
...
]