"Biden Administration Takes Step Towards Debt Relief: 164,000 Borrowers to Receive Automatic Loan Forgiveness. In a significant move towards reducing the burden of student loan debt, the Biden administration is set to forgive the loans of approximately 164,000 federal student loan borrowers. Eligible borrowers will receive a notification, marking a major milestone in the administration's efforts to address the growing issue of student loan debt. This development comes as a relief to many borrowers who have been struggling to make ends meet, and highlights the administration's commitment to making higher education more accessible and affordable."
Today, about 164,000 federal student loan borrowers are being notified that they are eligible for automatic loan forgiveness.