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Published 28 days ago

Biden administration to forgive $7.7 billion in student debt for more than 160,000 borrowers

  • The Biden administration is forgiving $7.7 billion in student loans for over 160,000 borrowers, adding up to $167 billion for nearly 5 million Americans.
  • $5.2 billion is allocated for 66,900 Public Service Loan Forgiveness pursuers, $1.9 billion for 39,200 under income-driven plans, and $613 million for 54,300 in the latest SAVE plan.
  • President Joe Biden aims to make higher education a pathway to the middle class, not an obstacle to opportunity.
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