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student loan relief effortsCNBC
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85% Informative
The Biden administration announced on Thursday that it was forgiving another $4.5 billion in student debt for over 60,000 borrowers.
The latest round of relief is a result of the U.S. Department of Education 's fixes to the popular, but once troubled, Public Service Loan Forgiveness program.
The program allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years .
The average student loan balance forgiven under PSLF is around $70,000 .
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