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The Independent UK

National

Alia Wong and Collin Binkley

The Trump administration says it is cutting student loan interest. Here are some facts and context

Donald Trump Education Interest Rates Education Department

Trump Education - (AP Photo/Jose Luis Magana)

The Education Department on Thursday announced a reduction in interest rates for federal student loans, describing it as part of a plan to make higher education more affordable.

With growing numbers of borrowers in default, the Trump administration pitched the temporary, 1% reduction in student loan interest rates as a salve for those struggling with repayment.

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