Huge win for borrowers as US Education Department resumes student loan forgiveness for millions: Here's what to know
The US Department of Education has resumed student loan forgiveness for millions after reaching an agreement with the American Federation of Teachers. The deal allows income-driven repayment borrowers to receive tax-free loan cancellations and reimbursements for extra payments. It also reopens paused programs like IBR and PAYE, offering long-awaited relief and stability to student debt holders.
The US Department of Education has resumed student loan forgiveness for millions after reaching an agreement with the American Federation of Teachers. The deal allows income-driven repayment borrowers to receive tax-free loan cancellations and reimbursements for extra payments. It also reopens paused programs like IBR and PAYE, offering long-awaited relief and stability to student debt holders.
