Federal Student Loan Debt Relief | Federal Student Aid

Cancel some or all debt for federal student loan borrowers who owe more than they did at the start of repayment in one of the following two ways: Cancel up to $20,000 of the amount by which a borrower’s current balance is greater than the balance on their federal student loans upon …

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Federal Student Loan Debt Relief | Federal Student Aid

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Biden-Harris Administration Approves Additional $4.5 Billion In …

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Oct 17, 2024 · The Biden-Harris Administration announced the approval of about $4.5 billion in additional student loan relief for over 60,000 borrowers who work in public service. Total loan …

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FACT SHEET: President Biden Announces Student Loan Relief For …

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Aug 24, 2022 · The skyrocketing cumulative federal student loan debt—$1.6 trillion and rising for more than 45 million borrowers—is a significant burden on America’s middle class.

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Biden-Harris Administration Announces Additional $4.9 Billion In ...

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Jan 19, 2024 · The Biden-Harris Administration announced today the approval of $4.9 billion in additional student loan debt relief for 73,600 borrowers. These discharges are the result of …

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Federal Student Aid

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To smooth the transition back to repayment and help borrowers at highest risk of delinquencies or default once payments resume, the U.S. Department of Education will provide up to $20,000 in …

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A New Student Loan Forgiveness Policy Is Starting Sooner Than

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Jan 12, 2024 · With each additional $1,000 of debt, the window for forgiveness increases by one year. For example, a student who took out $13,000 in loans will now have their debts erased if …

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Biden-Harris Administration Announces Additional $7.7 Billion In ...

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May 22, 2024 · The Biden-Harris Administration announced today the approval of $7.7 billion in additional student loan debt relief for 160,500 borrowers. These discharges are for three …

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With Trump's Win, Student Debt Relief Is In Question. Here's What To ...

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1 day ago · What is a college grad's life without debt? 07:31 There's a lot on the line for the 46 million Americans who hold $1.7 trillion in student loans, a financial burden that about half of …

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30% Of Student Loan Borrowers Have Gone Without Essentials, Like …

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1 day ago · Biden has forgiven more federal student loan debt than any other president. Since he took office, the Education Department has canceled the student loans of roughly 5 million …

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FAQs about Federal Student Loan Debt Relief | Federal Student Aid Coupon?

Who can get student loan debt relief?

Get details about one-time student loan debt relief. In addition, borrowers who are employed by nonprofits, the military, or federal, state, Tribal, or local government may be eligible to have all of their student loans forgiven through the Public Service Loan Forgiveness (PSLF) program. ...

How many student loan borrowers are approved for debt relief?

“One out of every 10 federal student loan borrowers approved for debt relief means one out of every 10 borrowers now has financial breathing room and a burden lifted.” Recently, the U.S. Department of Education (Department) also announced an update on the timing of the payment count adjustment. ...

Who is eligible for student loan relief?

Borrowers who owe more now than they did at the start of repayment. Borrowers would be eligible for relief if they have a current balance on certain types of Federal student loans that is greater than the balance of that loan when it entered repayment due to runaway interest. ...

Will the Secretary of Education Grant student debt relief?

In April, the Administration released its first set of draft rules that proposed authorizing the Secretary of Education to grant student debt relief to tens of millions of borrowers across the country, including those whose balances have grown due to runaway interest and those who entered repayment on their loans a long time ago, among others. ...

What's going on with student debt relief?

And, in the wake of the Supreme Court decision on the Administration's original student debt relief plan, the Administration continues its work to pursue an alternative path to debt relief through negotiated rulemaking under the Higher Education Act. $11.7 billion for almost 513,000 borrowers with a total and permanent disability. ...

How much student loan Relief does Biden-Harris offer?

The Biden-Harris Administration announced today the approval of approximately $4.5 billion in additional student loan relief for over 60,000 borrowers across the country who work in public service. ...