US student loan borrowers can apply to cancel up to $20,000 of debt, with borrowers who made payments during the moratorium able to request a refund from their loan servicer.
Why it matters
The plan will help more than 40 million Americans and eliminate student loan debt for 20 million people.
What the papers say
Sources agree on the key details of the plan, but some provide additional information on how to apply for debt cancellation and refunds.
How we got here
Interest and payments on student loans have been paused since the beginning of the COVID-19 pandemic. President Joe Biden announced the plan to forgive student loan debt in August 2022.
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