Biden's administration cancels $39B student debt for over 804,000 borrowers, providing relief through income-driven repayment plans.
Income-driven repayment (IDR) program tweak allows borrowers with 20 or 25 years of monthly payments to be eligible for forgiveness.
Relief addresses historical inaccuracies in payment count, ensuring borrowers' progress towards forgiveness is accurately tracked.
Biden's administration has provided over $116B in loan relief to 3 million borrowers, prioritizing financial assistance for students.
Supreme Court blocks Biden's plan to cancel billions in debt, prompting pursuit of new measures for student loan relief.
Regulatory process initiated for a $430B loan relief plan, aiming to alleviate the burden of student loan debt over several months.
Biden administration announces separate payment count adjustment program, offering smaller relief to borrowers in need.
Vice President Kamala Harris emphasizes the administration's dedication to affordable education without burdensome student loan debt.
Americans can access high-quality postsecondary education without the weight of unmanageable debt, says Vice President Harris.
Biden's commitment to equitable opportunities for higher education includes limiting long-term financial consequences for students.