The Education Department announced the latest round of cancellation on Wednesday, saying it will erase $7.7 billion in federal student loans.

The Biden administration is canceling student loans for another 160,000 borrowers through a combination of existing programs.

The Education Department announced the latest round of cancellation on Wednesday, saying it will erase $7.7 billion in federal student loans. With the latest action, the administration said it has canceled $167 billion in student debt for nearly 5 million Americans through several programs.

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The latest relief will go to borrowers in three categories who hit certain milestones that make them eligible for cancellation. It will go to 54,000 borrowers who are enrolled in Biden’s new income-driven repayment plan, along with 39,000 enrolled in earlier income-driven plans, and about 67,000 who are eligible through the Public Service Loan Forgiveness program.

    • Kalkaline
      34·
      6 months ago

      Work and live in another country is actually pretty darn good advice if you can get out of this shit hole.

    • jo3jo3@lemmy.world
      18·
      6 months ago

      No, I’m not giving advice to do anything. The op was frustrated they would not get their loans forgiven, so suggested the possibility of not paying. It’s an option. No payment as a form of protest. And I definitely did not tell anyone to live in a different country… Learn how to read