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Biden Administration Moves To Grant $39 Billion in Student Loan Breaks

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After the bigger loan forgiveness program was rejected by the Supreme Court, the Biden administration is looking for other ways to let borrowers off the hook for student loans.

The Biden administration announced Friday that it would move to forgive $39 billion in student debt for around 804,000 borrowers.

The new plan would count more payments toward a longstanding forgiveness program that provides debt relief when borrowers have made student loan payments for 20 or 25 years.

 

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