President Biden announced Wednesday he would be canceling student debt for more than 160,000 borrowers. The new plan forgives $7.7 billion for the latest batch of borrowers, bringing the total relief from Biden’s student debt actions to $167 billion for 4.75 million Americans. The latest loan forgiveness initiative comes through various income-driven repayment (IDR) plans, including the president’s newly established SAVE program.
Source Agencies
