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What borrowers should know about the Biden administration's student loan debt forgiveness

Students from George Washington University wear their graduation gowns outside of the White House in Washington, DC, on May 18, 2022. (Stefani Reynolds /AFP via Getty Images)
Students from George Washington University wear their graduation gowns outside of the White House in Washington, DC, on May 18, 2022. (Stefani Reynolds /AFP via Getty Images)

The Biden administration announced it will cancel some federal student loan debt and that it will continue the pause on repayment through the end of the year.

The news has brought relief to millions of borrowers. Here & Now‘s Scott Tong goes over who qualifies, what borrowers should be doing during the pause, and what more could be done to reform the student loan system and address the growing cost of college with Betsy Mayotte, founder of The Institute of Student Loan Advisors.

 

This article was originally published on WBUR.org.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

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