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new student loan cancellationABC News
•85% Informative
The proposal would allow the Education Department to proactively cancel loans for borrowers if they have an 80% chance of being in default on their loans within two years .
It's meant to help borrowers who are unlikely to ever be able to repay their loans.
The Education Department estimates about 8 million Americans would qualify for cancellation.
The proposal will enter a 30-day public comment period before it could become official.
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88
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