Starting Monday, hundreds of thousands of federal student loan borrowers will receive emails from their servicers with the subject line “Your student loans have been forgiven.”
The notices will come as part of the Biden administration’s previously announced efforts to cancel debt for 804,000 borrowers who qualify for relief under their repayment plans but haven’t yet received it because of what officials have called administrative failures.
This point will be lost in the reaction to this new approach. These people have been paying back their debt for a long time. Errors have been made. Relief is on the way.