President Biden faces mounting pressure to forgive student loans before the Trump administration takes office, with Democratic lawmakers urging the Education Department to process pending applications for 400,000 borrowers defrauded by their colleges. Despite forgiving over $28 billion for 1.6 million borrowers, concerns grow that the incoming administration may reverse these efforts, particularly affecting older Americans. Advocates emphasize the urgency for action, as many borrowers are running out of time for relief.
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