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The Biden administration will forgive $39 billion of student debt for about 800,000 borrowers.
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Only those who’ve made repayments in an income-driven plan for either 20 or 25 years are eligible.
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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 borrowers’ debt after at least 20 years of payments, but administrative errors…
Read the full article at: https://news.yahoo.com/youre-under-40-bidens-latest-143000291.html