Biden Administration Erases $1.2 Billion in Student Debt for 150,000 Americans President Joe Biden’s administration has made another significant move by cancelling $1.2 billion in federal student loans, benefiting over 150,000 borrowers. This action is part of the Saving on a Valuable Education (SAVE) plan, introduced in January, aimed at providing relief to Americans who have been repaying their student loans for at least ten years. Specifically targeting individuals who borrowed under $12,000 for their education, this initiative marks a step towards alleviating the financial burden of higher education. This latest cancellation brings the total student loan relief under the Biden administration to nearly $138 billion, affecting nearly 3.9 million borrowers. With 6.9 million people enrolled in the SAVE program, the number of beneficiaries is expected to rise, although the exact figure remains undetermined. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Higher interest rates make government debt unviable as an economic solution READ MORE McDonald’s posts rare profit miss as customers turn picky READ MORE Gen Z will pay dearly for this U.S. blunder on the massive debt that boomers, Gen X, and millennials are dumping on them, former White House economist warns READ MORE Silver Is the New Gold' — Egyptians Try to Protect Savings READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment