Based on new data released by the Education Department, around 3.7 million Americans have collectively earned over $136 billion in student loan forgiveness—an unparalleled degree of relief.
As part of its efforts to relax regulations and increase the availability of student loan forgiveness under important programs, the Biden administration has executed the releases through a number of so-called “targeted” initiatives. Other student debt relief programs, such as those that offer flexibility in returning to repayment and a fresh route out of default, are now available to more borrowers.
However, while a few of these initiatives will remain in place for a while (and a new loan forgiveness scheme is being developed and may be unveiled later this spring), others are scheduled to end as the year progresses.
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