Education Department proposes student debt releif for 8M borrowers facing financial hardships

Oct. 25 (UPI) -- The Education Department said Friday it is using new rules to deliver student debt relief to almost 8 million borrowers as they struggle with their loans as well as with financial hardships like high medical costs, childcare costs and natural disasters.

The rules enable loan forgiveness that would waive up to the entire student loan balance if the Education Department "determines a hardship is likely to impair the borrower's ability to fully repay the loan or render the costs of continued collection of the loan unjustified."

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