For most people with federal student loans, the Supreme Court dashed their dreams of debt relief. Still, some borrowers are beginning to have their balances wiped away, Bloomberg News reported. The Department of Education recently began forgiving $39 billion in student debt for more than 800,000 borrowers that enrolled in income-driven repayment plans and had made monthly payments for at least 20 years. The Biden administration launched a one-time effort in April last year to correct administrative errors that had kept borrowers on the hook for repayments when their balances ought to have dropped to zero. Their clean slates are landing just as payments are set to resume on federal loans for the first time in more than three years.
