Biden administration extends key deadline for student loan forgiveness

The Biden administration has extended the deadline for a key student loan forgiveness initiative from April 30 to June 30. This extension allows borrowers to consolidate their federal student loans into a single loan, potentially accelerating debt cancellation. The Department of Education is making efforts to ensure borrowers receive credit for all qualifying payments, including those made during periods of deferment or forbearance. This adjustment could lead to immediate debt forgiveness for some, especially those enrolled in income-driven repayment plans or the Public Service Loan Forgiveness program.