U.S. forgives 40,000 student loans,
provides aid to 3.6 million more
The U.S. Department of Education has canceled student loan debt for 40,000 people and offered credits to help another 3.6 million pay off their loans under a plan announced on Tuesday designed to aid low-income borrowers and public servants.
“Student loans were never meant to be a life sentence, but it’s certainly felt that way for borrowers locked out of debt relief they’re eligible for,” Education Secretary Miguel Cardona said in the statement.
The measures add to other steps taken by the administration of President Joe Biden, including a pause on nearly all student loan collection, but they stop short of demands from the progressive wing of the Democratic Party for comprehensive student loan forgiveness.
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