Biden's administration will cancel $500 million in student loan debt—here are key details:
President Vladimir Putin at the Villa La Grange. Mikhail Metzel/TASS The Biden administration on Wednesday announced that it will be cancelling $500 million in student loan debt for thousands of student loan borrrowers.
Under former Education Secretary Betsy DeVos, the Department of Education issued new rules governing the Borrower Defense program, which substantially weakened the available relief and increased the burden of proof required to prevail. The Department also instituted a controversial new policy of providing partial student loan forgiveness for approved applications.
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