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A 2024 survey by the Consumer Financial Protection Bureau revealed that nearly 61% of borrowers who received debt relief ... particularly those with lower incomes and larger student loan debt. ...
Source: U.S. Department of Education Federal student loan debt by age. As of the second quarter of 2024, Gen X, followed by baby boomers, are among the most affected generations by student loan debt.
One month before President Biden leaves the White House, the Biden administration announced it has forgiven student loan debt for 54,900 public service workers. ... December 20, 2024 at 7:41 AM.
President Joe Biden has been fighting for student loan debt forgiveness over the past few years of his term. In 2023, the Supreme Court rejected his initial plan to wipe student loan debt totaling...
In April 2024, Biden announced plans to ease student loan debt, benefiting 23 million Americans. The plans included cancellation of up to $20,000 of accrued interest, regardless of income and automatic cancellation of debt for borrowers who were eligible for certain forgiveness programs, who had entered repayment decades ago, who had enrolled ...
The department released one of the plans in April and promised that borrowers could expect debt relief as early as fall 2024. They released another plan 11 days before the November election.
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