Student Loan Forgiveness Victory: Biden Announces Debt Cancellation for 800K Borrowers

President Joe Biden achieved a significant victory by canceling the debt of hundreds of thousands of borrowers.

[{"selector":"#anim-a8a98958-e0ae-4d7a-be61-3a5f98fe1e7e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] CREDIT GETIMAGE

[{"selector":"#anim-93f6766f-77ae-4059-92c2-c5a95f78856e","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] The debt cancellation will benefit 804,000 student loan borrowers and provide $39 billion in relief. The debt cancellation will benefit 804,000 student loan borrowers and provide $39 billion in relief. CREDIT GETIMAGE

[{"selector":"#anim-3ac01404-8f37-4e0c-a7b9-a4807f612cee [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The cancellation is a result of the federal government's efforts to address long-standing failures in student loan programs. The cancellation is a result of the federal government's efforts to address long-standing failures in student loan programs. CREDIT GETIMAGE

[{"selector":"#anim-a22c6735-fa7a-4083-ac07-88181a9d72c8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.24062488616884%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The new repayment plans offer debt forgiveness after 20 years of payments, depending on the borrower's loan terms and plan type. The new repayment plans offer debt forgiveness after 20 years of payments, depending on the borrower's loan terms and plan type. CREDIT GETIMAGE

[{"selector":"#anim-f57e9e31-db81-40df-8fe6-fd757f4da8e4","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] The Biden administration aims to correct the previous lack of debt forgiveness for eligible borrowers. The Biden administration aims to correct the previous lack of debt forgiveness for eligible borrowers. CREDIT GETIMAGE

[{"selector":"#anim-85291a71-086c-494b-a839-cfafce5374a9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] Many borrowers who were entitled to debt forgiveness didn't receive it due to unaccounted payments. Many borrowers who were entitled to debt forgiveness didn't receive it due to unaccounted payments. CREDIT GETIMAGE

[{"selector":"#anim-89cdf366-c983-434f-a8ae-b72969808bae [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Debt cancellation is a positive step towards reducing the burden of student loans. Debt cancellation is a positive step towards reducing the burden of student loans. CREDIT GETIMAGE

[{"selector":"#anim-6492cd5c-1747-4303-a210-43b8d2086b0c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.21264928838952%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"fill":"forwards"}] The move highlights the Biden administration's commitment to addressing issues in the education and student loan system. The move highlights the Biden administration's commitment to addressing issues in the education and student loan system. CREDIT GETIMAGE

Student Loan Forgiveness Victory: Biden Announces Debt Cancellation for 800K Borrowers

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Student Loan Forgiveness Victory: Biden Announces Debt Cancellation for 800K Borrowers

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President Joe Biden achieved a significant victory by canceling the debt of hundreds of thousands of borrowers.

President Joe Biden achieved a significant victory by canceling the debt of hundreds of thousands of borrowers.

Student Loan Forgiveness Victory: Biden Announces Debt Cancellation for 800K Borrowers

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