Biden Administration introduces new round of student loan forgiveness

The Biden Administration has directed the U.S. Department of Education to notify tens of millions of eligible borrowers that their student loan debt will be canceled.

Borrowers who qualify — including those who owe more money than they did at the start of repayment and those who have been paying off their loans for decades — can expect to receive student debt relief in the fall months, according to a report from CNBC.

The U.S. Department of Education is expected to publish its student loan forgiveness final rule in October and will act once the rule is in effect.

Read more: CNBC

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