U-Turn On Student Debt Relief, 770,000 Deadbeats Cut Off

Bailout Revised Over Backlash, Fears Of Lenders' Lawsuits

  • The Biden administration quietly revised its student loan bail, potentially affecting 4 million borrowers with loans owned or backed by private companies.
  • The Department of Education said privately held loans won’t qualify for the bailout, which is expected to cost more than $400 billion over a decade.
  • The Biden administration’s latest policy backtrack is likely to affect 770,000 people.

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