Biden announces another $7.4 billion in student debt forgiveness
The total reduction approved by the Biden-Harris administration amounts to $153 billion for 4.3 million Americans.
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Cordon Press
The White House announced that the Biden administration has granted student debt forgiveness to 277,000 people. With the measure, the total debt reduction approved by the Biden-Harris administration amounts to $153 billion for 4.3 million Americans.
"Today, President Biden announced that 277,000 more Americans will get their student debt canceled, bringing the total debt relief approved by the Biden-Harris Administration to $153 billion for 4.3 million Americans through various actions," the White House said in a statement.
Similarly, the White House explained that the 277,000 Americans who will receive this latest round of debt relief are borrowers enrolled in the SAVE Plan, other borrowers enrolled in income-driven repayment plans, and borrowers receiving public service loan forgiveness.
Since Biden took office, his administration has approved more than $54 billion in debt forgiveness for 1.3 million borrowers enrolled in income-driven repayment plans, including the new SAVE Plan.