On Fri July 14, 2023; Biden’s administration announced the news after 2 years. Although $39 billion reduces the loan amount of 800,000 students; it is not $1.7 trillion, which would have reduced the loan amount of 44.7 million students. It’s not a loan forgiveness for all as originally intended i.e., $50k per student. Borrowers who have maintained 20 years or more of repayment are the ones who qualify. Hence, this is not a legacy move for Biden as per the LinkedIn post. Copy and paste the URL to read the LinkedIn article https://tinyurl.com/4ma3drmm
SLF
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