Student Loan Forgiveness And Repayment Plans At Major Risk As Problems Worsen

The Biden administration has implemented a number of student loan forgiveness and repayment initiatives designed to provide relief to borrowers as payments resume this month. Officials have touted nearly $127 billion in student loan forgiveness approved for borrowers so far.

These initiatives include loan forgiveness programs for public servants, borrowers who have been in repayment for many years, and those who have been defrauded by their school. The Education Department is also rolling out a new income-driven repayment plan called SAVE, which officials are touting as the most affordable student loan payment option ever created.