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The Biden administration has announced the cancellation of student loan debt for more than 150,000 borrowers, marking a significant step in its ongoing efforts to provide financial relief to Americans burdened by educational debt. This latest round of forgiveness brings the total number of individuals impacted by President Joe Biden’s debt relief initiatives to over five million.
The 150,000 borrowers benefiting from this decision represent various groups facing unique challenges. Among them are 85,000 individuals whose schools defrauded them through misleading or illegal practices. These borrowers are receiving relief under the Borrower Defense to Repayment program. . .
