{"id":27405,"date":"2023-07-16T13:14:37","date_gmt":"2023-07-16T20:14:37","guid":{"rendered":"https:\/\/occupysf.net\/?p=27405"},"modified":"2023-07-16T13:14:38","modified_gmt":"2023-07-16T20:14:38","slug":"education-dept-cancels-39-billion-in-student-debt-for-800000-borrowers","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2023\/07\/16\/education-dept-cancels-39-billion-in-student-debt-for-800000-borrowers\/","title":{"rendered":"Education Dept. Cancels $39 Billion in Student Debt for 800,000 Borrowers"},"content":{"rendered":"\n

One-time credits will wipe out loans, fixing mistakes made by loan servicers when collecting payments under income-driven repayment programs.<\/p>\n\n\n\n

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Demonstrators calling for the cancellation of student debt in Washington in June.Credit…Kenny Holston\/The New York Times<\/em><\/figcaption><\/figure>\n\n\n\n

Demonstrators calling for the cancellation of student debt in Washington in June.Credit…Kenny Holston\/The New York Times<\/p>\n\n\n\n

\"Stacy<\/a><\/figure>\n\n\n\n

By Stacy Cowley<\/a><\/p>\n\n\n\n

July 14, 2023 (NYTimes.com)<\/p>\n\n\n\n

More than 800,000 borrowers will have $39 billion in federal student loan debt eliminated<\/a> under a government effort to remedy years of mistakes by the loan servicers that collect payments on the government\u2019s behalf.<\/p>\n\n\n\n

Millions more people will have their loans adjusted as part of the program. That process will continue into next year.<\/p>\n\n\n\n

Stacy Cowley<\/a>\u00a0is a finance reporter with a focus on consumer issues and data security. She previously reported on a variety of business topics, including technology and economics, at CNN Money, Fortune Small Business, and other magazines and websites.\u00a0More about Stacy Cowley<\/a><\/p>\n\n\n\n