40,000 students' debt erased, almost 4M on the table for further breaks

Thousands of current and former students have had their debt wiped clean, with the possibility for further breaks on the horizon.

Federal Student Aid estimates that approximately 40,000 individuals will receive "immediate debt cancellation" under new guidelines for the Public Service Loan Forgiveness Program.

"Student loans were never meant to be a life sentence, but it’s certainly felt that way for borrowers locked out of debt relief they’re eligible for," U.S. Secretary of Education Miguel Cardona wrote in the release. "Today, the Department of Education will begin to remedy years of...