"Biden's Student Loan Plan Forgives $1.2 Billion in Debt for 153,000 Borrowers"

Nearly 153,000 borrowers enrolled in Biden's new student loan repayment plan will receive emails notifying them of the cancellation of their remaining federal student loan debt, totaling about $1.2 billion, with a congratulatory message from President Biden. The administration has continued to find ways to help borrowers after the Supreme Court rejected Biden's signature student loan forgiveness program last year. The new SAVE plan offers more generous repayment terms for low-income borrowers, and the Department of Education is conducting a one-time recount of borrowers' past payments to fix administrative failures. Additionally, the Biden administration has expanded debt relief programs for public-sector workers, borrowers defrauded by colleges, and disabled borrowers.