(Bloomberg) — President Joe Biden moved to discharge federal student loans for more than 150,000 people on Monday, in a final push that will bring the total number of borrowers who received loan forgiveness under his administration to over 5 million people.
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The Education Department is canceling debt for individuals who were cheated or defrauded by their institutions, people with severe disabilities, or public servants, according to a press release.
Easing the burden of student loan debt was one of Biden’s signature campaign promises in the 2020 election, but his efforts to carry out that pledge were hit by legal obstacles, most notably the Supreme Court blocking a plan that would have slashed up to…
