Biden Touts $1.2 Billion Student Loan Cancellation During Southern California Visit

Published on February 22, 2024

President Joe Biden concluded a two-day Southern California fundraising visit Feb. 21 with a speech in Culver City, the same day he announced the cancellation of federal student loans for about 153,000 borrowers. “While a college degree is still a ticket to a better life, that ticket is too expensive,” Mr. Biden said during the speech at a local library. “Too many Americans are still saddled with unsustainable debt in exchange for a college degree.” The Biden administration started sending out emails Wednesday to select borrowers who stand to benefit from what the White House has dubbed the SAVE program. To qualify for the most recent round of student loan debt cancellation, borrowers must have been making payments for a minimum of 10 years and borrowed $12,000 or less....

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