Do you qualify for Biden’s student debt forgiveness?
The Biden administration announced an additional $9 billion in student debt relief for tens of thousands of borrowers Wednesday, days after federal student loan payments resumed after a three-year pause during the pandemic.The move gives relief through fixes to income-driven repayment plans and public service loan forgiveness, and by canceling debt for borrowers with total and permanent disabilities, the White House said in a statement.Here’s what you need to know.What does it mean?
The measure will forgive some $9 billion in federal student loans to about 125,000 borrowers. The latest round of relief is part of the Biden administration’s changes to federal programs to address bureaucratic obstacles and widespread breakdowns that prevented some borrowers from having debt waived; those and...