NEW YORK (AP) — President Joe Biden’s student loan forgiveness plan, announced in August, will cancel up to $20,000 in debt per borrower.
The application process is now open, and the administration says the forms should take five minutes to complete. Borrowers who apply before mid-November should see forgiveness before Jan. 1, when payments on loans are scheduled to restart after a pause during the pandemic.
Some Republican-led states have filed lawsuits to try to stop the cancellation, but the Biden administration says they’re confident the challenges won’t succeed.
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