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Debt Forgiveness

AP News | Equities.com |

The Biden administration announced Thursday it will automatically erase student loan debt for more than 300,000 Americans with severe disabilities that leave them unable to earn significant incomes.

The move will wipe out more than $5.8 billion in debt, according to the Education Department, and it marks the start of a broader overhaul of a program that has been criticized for having overly burdensome rules.