- The Biden administration will forgive $39 billion of student debt for about 800,000 borrowers.
- Only those who’ve made repayments in an income-driven plan for either 20 or 25 years are eligible.
- That means the policy probably isn’t much help to anybody younger than 40.
Joe Biden’s latest student-debt relief effort probably isn’t going to help anyone younger than 40.
The Education Department said Friday that it plans to automatically cancel $39 billion of loan repayments for about 800,000 borrowers by fixing paperwork issues with income-driven repayment plans.
Those plans are supposed to forgive …
Read the full article at: https://www.businessinsider.com/student-loan-forgiveness-debt-relief-income-driven-repayment-under-40-2023-7