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The Education Department today announced changes to two key student loan programs: the public service loan and income-driven repayment programs.
The changes would “fix long-standing failures” in the programs, department officials said. After the changes are made, 40,000 borrowers will have their debts forgiven under the Public Service Loan Forgiveness program. More than 3.6 million borrowers will also receive at least three years of additional credit toward IDR forgiveness.
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