Biden Administration Proposes New Rules to Ease Student Debt Burden

Under the proposed new rules, which would have to go through the regulatory process, individuals making $30,500 a year – meaning those making $15 an hour – would not have to make monthly payments on their federal student loans. The most generous programs now for borrowers in an income-driven repayment plan max out at $20,400 annual income for a single individual, officials said.
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