A popular student loan forgiveness plan was just paused
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The US Department of Education has halted the cancellation of student loans in Income-Based Repayment plans, prompting concern among borrowers that their loans will not be forgiven anytime soon.
The Department of Education is temporarily forgoing student loan forgiveness for borrowers under the Income-Based Repayment plan, also known as IBR. The department issued guidance stating that IBR forgiveness is paused while payment records are being updated.
The pause impacts millions seeking relief under one of the last remaining federal income-driven repayment options not blocked by legal challenges.