Education
Video: Biden Announces Student Loan Forgiveness for 150,000 Borrowers
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Biden Announces Student Loan Forgiveness for 150,000 Borrowers
The plan will cancel $1.2 billion in debt for people enrolled in the SAVE repayment program, who took out $12,000 or less and have made payments for at least 10 years.
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Folks, I’m happy to have been able to forgive these loans because when we realize and relieve Americans of their student debt, they’re free to chase their dreams. I’m proud to announce our SAVE plan. We are immediately canceling the debt, loans for over 150,000 borrowers, nearly six months ahead of schedule. I promise you, I’m never going to stop fighting for hard working American families. So if you qualify, you’ll be hearing from me shortly. Thousands of people per month – about 25,000 a month or every two months – will be paid in a 50,000 basis but are eligible for relief. And they’ll be getting a letter from me letting them know they’re qualified. And when they get that letter, your debt is going to be forgiven.
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