The Education Department announced the latest round of cancellations Friday in an update on the progress of its SAVE Plan... more eligible for student loan cancellation as they hit 10 years of payments, a new finish line, a decade sooner than in the past.
The Education Department has approved cancellation for about 360,000 borrowers through the new repayment plan, totaling $4.8 billion... merged most income-driven plans into the SAVE Plan for more lenient terms, allowing more to pay nothing until incomes rise.
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