Thu, Nov 4th, 2021 - 8:39am
April 12, 2024 - 9:40am | By Ty Schonert
(Washington, D.C.) -- A new round of student loan relief is coming out from the White House under the Biden Administration.
An estimated 277,000 people will have their student loan debt wiped out today. That rounds out to an estimated $153 billion relieved total for 4.3 million Americans. Plan are in place to cancel a total of 30 million Americans student loan debts.
“Today, my Administration is cancelling student debt for 277,000 more people, bringing the total number of Americans who have been approved for debt relief so far under my Administration to 4.3 million borrowers through various actions. These 277,000 borrowers are enrolled in my Administration’s SAVE Plan, or were approved for relief because of fixes we made to Income-Driven Repayment Plans and Public Service Loan Forgiveness,” said President Biden. “From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us.”
The administration says the forgiven loans are from borrowers " who were cheated by their schools, saw their schools precipitously close, or were covered by related court settlements," according to a release from the White House.
A total of 490 borrowers in North Dakota and 3,710 in Minnesota are impacted through today's actions. Between the two states, a total of 54,270 people and $2.55 billion has been impacted by the administration's loan forgiveness programs.
Those impacted through today's actions by the White House are borrowers through the following programs.
- The SAVE Plan
- Income Driven Repayment plans
- Public Service Loan Forgiveness
You can read more about the student loan cancelations by clicking here. You can access student loan forgiveness and relief by clicking here.
