Biden cancels $39 billion in student debt

The Biden Administration on Friday announced the cancellation of $39 billion in federal student loan debt, affecting an estimated 804,000 borrowers, CNBC reports. The move is the result of certain fixes to a forgiveness program certain borrowers were eligible for but for some reason got screwed out of. “For far too long, borrowers fell through the cracks of a broken system that failed to keep accurate track of their progress towards forgiveness,” said Education Secretary Miguel Cardona.

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