These borrowers will qualify for next round of student loan forgiveness

The Biden Administration is preparing to forgive the student loans of millions of borrowers, issuing new guidance on who will most likely be eligible for the next round of relief.

According to a report from Federal Student Aid, the U.S. Department of Education is still working on the details of the plan and will notify eligible borrowers of their student loan forgiveness.

Some experts expect the next round of student loan forgiveness to occur as soon as October. Those who stand to benefit from partial or full debt relief include borrowers whose balance is greater than the balance at the start of their repayment, those already eligible for relief, those who have been paying for many years and attendees of troubled schools. 

Read more: Financial Student Aid

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