The Biden administration on Wednesday announced it will begin moving forward with next steps in canceling student loan debt for tens of millions of borrowers this fall.
This week the Education Department will start emailing borrowers who have at least one federal student loan with an update on the potential student loan debt forgiveness available to them under the rule changes being finalized this fall.
It is the latest move in an a massive effort by President Biden to wipe out billions in student loan debt. The administration has already canceled more than $168 billion in debt for some 4.8 million borrowers.
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