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April 20, 2022

Biden Administration Moves to Reduce Student Debt Burden on Some Borrowers
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The U.S. Department of Education has announced changes to two student
loan programs to fix what the department described as "long-standing
failures." With the changes, about 40,000 people will have their debts
forgiven. Another 3.6 million borrowers will receive some credit toward
their debts owed. The moves come as the Biden administration faces
growing pressure to cancel all federal student debt. Student debt
cancellation would give relief to some 45 million people, who owe nearly
$1.8 trillion in student loans.


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