Trump Administration Resumes Student Loan Forgiveness
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The Trump administration made a new agreement. This agreement will restart student loan help for many people. About 2.5 million people with student loans will get this help.
The Education Department will now process loan forgiveness. This is for people in some payment plans. These plans have lower payments based on how much money they make.
The agreement also helps people with taxes. Some people will not have to pay high taxes this year. This is because some debt forgiven before the end of the year will not be taxed.
The Trump administration is checking other forgiveness programs. They want to find programs that were not stopped by court orders. The administration wants to make student loan payments easier for everyone.
If people paid too much, they will get money back. The Education Department must keep processing applications. People should keep good records of their payments, just in case.
Questions
What will the new agreement help with?
The new agreement will restart student loan help for many people.
How many people will get help with their student loans?
About 2.5 million people with student loans will get this help.
What should people keep good records of?
People should keep good records of their payments, just in case.
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