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Biden administration's $7.4 billion student loan forgiveness plan eases burden for millions tied to earnings and family size.
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The Biden administration has announced a significant $7.4 billion student loan forgiveness plan, benefitting 277,000 borrowers. Through the saving on a valuable education plan, monthly payments are tied to earnings and family size, providing relief to nearly 4.3 million individuals. Despite challenges, this latest loan forgiveness effort marks a substantial step as the administration continues to address education debts in the lead-up to Election Day.