Thousands will see their student loan debt eliminated under the new plans.
An additional 125,000 student loan borrowers will see debt relief from the federal government according to an announcement from the White House.>> Read more trending news
The debt relief is coming through three different already existing debt relief programs that have had problems in the past, the administration said.The new debt relief plan includes 53,000 borrowers who will receive debt cancellation under the Public Service Loan Forgiveness program. The PSLF eliminates remaining student loan debt for qualifying public sector workers who made 10 years’ worth of monthly payments.
Finally, nearly 22,000 borrowers who have a total or permanent disability have now been approved for an automatic debt discharge through a data match with the Social Security Administration. In August, the administration also launched an income-driven repayment plan called SAVE that will reduce monthly payments for eligible student loan borrowers.Reminder: All phones, TVs in the US will be getting an emergency alert test on WednesdaySeattle to pay nearly $2M after man dies of heart attack at address wrongly on 911 blacklist
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