Who is Eligible for Relief as Biden Forgives $6.1 Billion in Student Debt for 317,000 Borrowers

The Biden administration is forgiving $6.1 billion in student debt for 317,000 people who attended The Art Institutes, a for-profit chain of schools that shut down due to fraud allegations. President Biden aims to address the nation’s $1.7 trillion student debt issue. The schools misrepresented employment rates and salaries, leaving students with loans and lies. The administration has forgiven $160 billion for nearly 4.6 million borrowers, including previous debt relief efforts. Eligible borrowers will be notified of the debt discharge starting May 1 and do not need to continue making payments as loans will be paused.

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