00:00It's Benzinga bringing Wall Street to Main Street
00:02The Trump administration identified more than 40,000 borrowers eligible for federal student
00:07loan forgiveness in January, according to a court filing.
00:10The January figures indicate the Trump administration is expanding efforts to reduce the financial
00:15burden of student loan debt, CNBC reported.
00:18Recent changes to the federal lending system and layoffs at the Education Department in
00:23March have made it harder for many borrowers to access loan forgiveness options available
00:27under their terms.
00:28More than 626,000 federal student loan holders remain in a backlog for affordable repayment
00:34plans.
00:35Pending applications fell to about 734,000 in December from nearly 1.4 million in July.
00:42More than 42 million Americans hold student loans, with total outstanding debt exceeding
00:47$1.6 trillion, according to the Congressional Research Service.
00:51For all things money, visit Benzinga.com.
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