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Published 3 months ago

Biden's latest plan for student loan cancellation moves forward as a proposed regulation

  • President Joe Biden's student loan cancellation plan is progressing as a proposed regulation, aiming to fulfill a campaign promise and engage young voters before the November election.
  • The Education Department has initiated the process for the regulation, aiming to implement the loan cancellation announced by Biden last week.
  • This new plan, utilizing a different legal basis, targets canceling or reducing loans for over 25 million Americans, including various forgiveness categories based on different criteria.
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