The Biden administration announced Friday that it would forgive $39 billion in student loans for 804,000 borrowers, explaining it had pursued certain fixes to existing income-driven-repayment plans.
“For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” Education Secretary Miguel Cardona said in a written statement.
These income-driven plans set a forgiveness threshold of 20 or 25 years….