The administration of United States President Joe Biden has announced that it will eliminate an estimated $39bn in student debt, in its latest attempt to fulfill one of the Democrat’s central campaign promises.Friday’s announcement from the Department of Education is slated to affect nearly 804,000 borrowers enrolled in federal income-driven repayment plans, which adjust the amount owed per month according to salary and family size.The department, however, has framed Friday’s decision as an effort to correct past wrongs.
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