The Biden administration has announced it will forgive $39 billion
worth of student debt for those with federal loans.
The move will wipe out debt for about 800,000 borrowers within the next few weeks.
The forgiveness is happening because the Education Department is
correcting administrative errors that
inaccurately counted borrowers progress to
forgiveness.
Education Secretary Miguel Cardona says quote for far too long
borrowers fell through the cracks of a broken system,
adding quote by fixing past administrative failures.
We are ensuring everyone gets the forgiveness,
they deserve student loan payments were paused for
years during the pandemic and is set to resume
this October.