US President Biden's administration cancels $1.2bn in federal student loans.

US President Joe Biden has announced that his administration will cancel $1.2bn in federal student loans for approximately 153,000 borrowers. This is part of the Biden administration's Saving on a Valuable Education (SAVE) plan, which aims to accelerate the process of giving borrowers relief from their student loans more quickly. To qualify for this latest debt cancellation plan, a borrower must have enrolled in the SAVE plan, have been repaying their loan for at least a decade, and borrowed less than $12,000.

February 21, 2024
116 Articles