US Announces $39 Billion in New Student Debt Relief

"The Biden administration announced Friday that 804,000 borrowers will have their student debt wiped away, totaling $39 billion worth of debt, in the coming weeks..." reports CNN.
That's an average of $48,507 per borrower, each of whom has "been paying down their debts for 20 years or more and should qualify for relief," according to a statement from the administrationFriday's action addresses "historical failures" and administrative errors that miscounted qualifying payments made by borrowers,