Department of Education will send an email to student loan borrowers Wednesday.
The Department of Education will send an email to Americans with student debt on Wednesday.on Wednesday, laying out options for how roughly 25 million could have some, or all, of their debt canceled this fall.
If it's implemented as drafted, and survives the expected Republican-led lawsuits, it could give some amount of debt relief to 25 million people, on top of the nearly 4.8 million people that have already had their debts canceled under Biden's tenure. Biden, in a statement on Wednesday, said the goal is to notify borrowers of the upcoming debt relief programs in advance, so they can "benefit swiftly once the rules are final." Moving quickly to get relief out the door is sure to be important to the program's success, given the barrage of lawsuits from Republicans on any debt relief or student loan system reform Biden has attempted so far.
Some people would get up to $20,000 of interest canceled, while those who make below a certain income -- $120,000 as a single person or $240,000 as a married couple -- will get their entire runaway interest canceled.
Debt Debt Relief Student Loans Department Of Education Department Of Education E 15126208
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