SHREVEPORT, La. (KTAL/KMSS) — The White House has agreed to cancel student loan debt for millions of borrowers.

According to CNBC, the Trump Administration has agreed to forgive student debt under income-driven repayment programs it had partially blocked. Earlier this year, the Department of Education abruptly shut down the online application portals for income-driven repayment (IDR) plans and debt consolidation.

The latest move is the result of an agreement between the Department of Education and the American Federation of Teachers union.

The White House said it will process student loan forgiveness for eligible borrowers in two income-driven repayment plans: the original Income-Contingent Repayment plan and the Pay as You Earn plan.

More than 2.5 million borrowers are reportedly in e

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