More than 12,000 Alabamians are eligible for student loan forgiveness under President Biden’s new income-driven repayment plan. Here's what you need to know:
WASHINGTON, DC - DECEMBER 15: Activists call on President Biden to not resume student loan payments in February and to cancel student debt near The White House on December 15, 2021 in Washington, DC.More than 12,000 Alabamians are eligible for student loan forgiveness under President Biden’s new income-driven repayment plan.
The Department of Education began notifying impacted 804,000 borrowers last week they were eligible for automatic relief. Combined, some $39 billion in student loans will be forgiven including $553 million owed by Alabama borrowers. Residents of Texas, California and Florida are in line for the most student loan forgiveness at $3.1 billion, $3 billion and just under $3 billion, respectively.
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