Biden’s Admin Announces $1.2B Student Debt Relief Ahead Of Schedule

Biden’s Admin Announces $1.2B Student Debt Relief Ahead Of Schedule
President Biden

Written by Prince Anane

In a major move to alleviate the burden of student debt, the Biden administration has announced a plan to cancel $1.2 billion in debt for 153,000 borrowers. Under the SAVE repayment plan, eligible recipients will receive relief ahead of schedule, bypassing the original July timeline.


To qualify for this debt cancellation, borrowers must meet specific criteria. They need to be enrolled in the SAVE program, have made payments for at least 10 years, and have an original loan amount of $12,000 or less. President Biden himself will personally notify eligible recipients via email, bringing a sense of relief to those who have been struggling with their student loans.


This initiative aims to provide much-needed financial support to borrowers and ease the burden of student debt, allowing individuals to pursue their dreams and contribute to the economy without being weighed down by excessive loans.


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