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Secretary of Education Miguel Cardona stated in a statement announcing the action.
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His strategy also reduces payments for all federal loan forgiveness student loans borrowers for years to come.
Roughly ninety-five % of borrowers are still captured under these income limits, the division says.
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That will not conclude until well into 2024, and forgiveness wouldn’t take place till 2025.
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For instance, the Biden administration could implement an income threshold limiting higher-earnings earners from qualifying.
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