"Biden Expedites Student Loan Forgiveness for Select Borrowers"

The Biden administration has announced plans to forgive the student loans of borrowers who have been in repayment for a decade or more and originally took out $12,000 or less, with the relief expected to start next month for those enrolled in the new Saving on a Valuable Education (SAVE) plan. The U.S. Department of Education is launching an outreach campaign to encourage eligible borrowers to sign up for the SAVE plan, aiming to provide faster debt relief for struggling borrowers, particularly those with smaller loans, who have been making payments for years.