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Student-loan forgiveness under President Joe Biden has officially reached the end of the road.On Thursday, Biden's Education Department announced over $600 million in debt cancellation for 4,550 borrowers on income-based repayment plans and 4,100 borrowers who the department found were defrauded by DeVry University.This latest announcement marks the final student-loan forgiveness action under the Biden administration.
The Education Department also announced on Thursday that it had completed the account adjustments for borrowers on income-driven repayment plans, which corrected borrowers' payment counts and ensured their progress toward forgiveness was up-to-date. The department said that borrowers who recently transitioned to different servicers might see an additional one or two months of payments credited in the coming weeks.
Politics Policy Student Debt Student Loans Student Loan Forgiveness
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