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Biden admin announces last round of student debt relief

  • The Biden administration announced over $600 million in student loan forgiveness for 8,000 borrowers as part of its final efforts in office.
  • The U.S. Department of Education completed a payment count adjustment for borrowers in income-driven repayment plans, addressing previous tracking issues.
  • Biden's student loan forgiveness initiatives have totaled $188.8 billion for 5.3 million borrowers, despite legal challenges from the Supreme Court.
  • The incoming administration under Donald Trump is expected to scale back student loan forgiveness efforts, according to financial experts.
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