President Biden announced a plan to cancel $7.4 billion in debt for 277,000 people, with almost 207,000 in the SAVE plan, 65,000 in income-driven repayment plans, and 4,600 through Public Service Loan Forgiveness fixes.
Around one in ten Federal student loan borrowers has now been approved for debt relief due to the administration's efforts, with emails starting to be sent out on Friday for approved loan cancellations.
President Biden pledged to continue working on student debt cancellation, despite Republican opposition, emphasizing his commitment to ensuring higher education is accessible and not a barrier to opportunity.
#student-debt-relief #biden-administration #government-action #higher-education #public-service-loan-forgiveness
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