More than 12,000 Wisconsinites will see their student debt wiped out under President Joe Bidens program to help borrowers who have had their loans mismanaged under income-driven repayment plans.
The U.S. Department of Education (DOE) announced last week that $39 billion in debt relief would be provided through fixes to the income driven repayment program. The repayment plans are meant to allow people to make payments determined by how much money they make, with promises to wipe out the remaining debt after making 20 years of qualifying payments. Many borrowers have been making payments for 20 years or more, yet were denied debt relief they were eligible for. Other borrowers payments went unaccounted for.
The 12,220 borrowers in Wiscons…
Read the full article at: https://wisconsinexaminer.com/brief/12000-wisconsin-borrowers-eligible-for-576-million-in-student-debt-relief-under-biden-plan/