Biden Student Loan Debt Relief Erases $39 Billion In Debt – Do You Qualify For The Debt Cancellation? 

On Friday, the Biden administration announced that Biden Student Loan Debt Relief with more than 800,000 borrowers would have their remaining loan balances eliminated with a total worth of $39 billion, as part of a program to address the past broken system that failed to keep accurate track of their progress towards forgiveness or who may have provided poor advice when borrowers called for assistance.

Hence, the decision to forgive a substantial portion of student loan debt comes as welcome news to borrowers who have long grappled with the weight of their educational loans. In the coming days, thousands of borrowers will learn whether they received an account adjustment resulting in enough qualifying payments to eliminate their loans.

Moreover, under the newly announced plan, the Biden administration aims to provide relief to approximately 5.8 million borrowers and this process will continue until the end of the year.

Then borrowers who don’t yet have enough qualifying payments for the debt cancellation will receive their updated payment counts.

Here’s How To Know Who Qualifies For The Studnet Loan Forgiveness