WASHINGTON — The Biden administration is taking further steps to ease the burden of student loans, but new actions announced Tuesday were well short of what many Democrats want to see.
The Education Department is estimating that the action will provide “immediate debt cancellation for at least 40,000 borrowers” who work in public service careers and have taken part in a program that is supposed to forgive loans after 120 qualifying monthly payments.
The changes “will begin to remedy years of administrative failures that effectively denied the promise of loan forgiveness” to borrowers, Education Secretary Miguel Cardona said in a statement.
