"Student Loan Repayments Resume with $9B in Forgiveness and Retirement Concerns"

The Biden administration announced that 125,000 student loan borrowers will have $9 billion in student loan debt forgiven. These borrowers were already eligible for cancellation through programs such as Public Service Loan Forgiveness, income-driven repayment plans, or discharges for those with disabilities. The forgiveness comes as student loan payments resume for millions of borrowers after a three-year hiatus during the pandemic. The administration has now erased $127 billion in student debt, covering about 3.6 million Americans. A committee will also meet to discuss another possible route to erasing student loan balances on a large scale.