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NEW YORK, NY (WNY News Now) – Senate Majority Leader Charles Schumer held a news conference on Sunday to discuss numbers on New Yorkers who will benefit from student loan debt forgiveness.
“We’re here on the heels of truly historic student loan reform. As you know I’ve been fighting to get the burden off students’ shoulders for a long time,” said Schumer. “New Yorkers will have a huge huge benefit. The weight off students’ shoulders for close to half of all New Yorkers who have debt will be eliminated and for all the others will be reduced.”
The U.S. Senator also called on student loan service providers to begin increasing staffing levels over the upcoming weeks as borrowers start applying for the loan forgiveness.
“Today we are calling on the loan processors and the federal department of education to make sure that the loan processors hire more people and inform those people,” continued Schumer. “So in the next 6 weeks when students will then have to apply, they can get information on how to apply and it what it means to them so they can start planning.”
More details are expected to be announced in the coming weeks, however, borrowers will until December 31st of next year to apply.
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