President Joe Biden’s new loan relief program could potentially cancel $592 million in federal student loan debt across 12,530 borrowers in Massachusetts.
On Friday, the U.S. Department of Education began the process of notifying 804,000 borrowers across the country who have a total of $39 billion in federal student loans that their loans will be eligible to be forgiven. This does not require any further action on the borrower's part, the DOE said.
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