Home » Update on student loan forgiveness initiatives expected in coming weeks

Update on student loan forgiveness initiatives expected in coming weeks

by The 100 Companies

In response to the economic disaster of COVID-19, the Biden administration implemented a temporary change to loosen regulations for student loan forgiveness, including pauses on payments among other breaks. Last month, The U.S. Department of Education indicated that they have already approved $8.1 billion in loan cancelations for around 200,000 students.

This initiative, however, is not permanent and is set to end in October with a return back to the original, highly restrictive regulations from before. That being said, Biden’s administration has suggested a possible extension which they plan to announce a decision on in the next coming weeks.

Maya Kaplan, The Atlanta 100

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The Georgia 100