NEW YORK (PIX11) — On the heels of historic student loan reform, Sen. Chuck Schumer called on loan services to be prepared for the wave of calls set to come their way from borrowers who may need help.
Schumer said it will be important in New York, where $16.3 billion in debt will be canceled. He said more than 1.09 million borrowers will have their debt wiped and another 2.25 million will see some relief.
“The loan processors hire more people, inform those people, so in the next six weeks, when students will student swill then have to apply, they can get information on how to apply and what it means to them so they can start planning,” Schumer said.
PIX11’s Rebecca Solomon has more in the video above. For more on the student debt relief, click here.