As part of the compensation, the Education Department will waive interest, cancel payments, and credit borrowers with time toward student loan forgiveness.
The Biden administration is working on a new student loan forgiveness plan. And borrowers who face significant hardships could potentially qualify for relief.
The Biden administration is working on a new student loan forgiveness plan. And borrowers who face significant hardships could potentially qualify for relief.
As loan servicing problems mount, some borrowers are being forced into an administrative forbearance, which historically doesn t count toward student loan forgiveness.