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Biden Administration Moves to Reduce Student Debt Burden on Some Borrowers

HeadlineApr 20, 2022

The U.S. Department of Education has announced changes to two student loan programs to fix what the department described as “long-standing failures.” With the changes, about 40,000 people will have their debts forgiven. Another 3.6 million borrowers will receive some credit toward their debts owed. The moves come as the Biden administration faces growing pressure to cancel all federal student debt. Student debt cancellation would give relief to some 45 million people, who owe nearly $1.8 trillion in student loans.

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