Biden to Forgive $7.4 Billion More in Student Loan Debt for 277,000 Borrowers

Published on April 12, 2024

The Biden administration on Friday announced another expansion of the federal student debt relief program, declaring the cancellation of $7.4 billion in student loans for 277,000 Americans. This initiative, unveiled on April 12, marks another move in the administration’s efforts to cancel student debt, totaling $153 billion in canceled debt for 4.3 million beneficiaries since taking office. “This latest round of debt cancellation comes on the heels of President Biden announcing new plans that, if implemented, would cancel student debt for over 30 million Americans when combined with actions the Administration has taken over the last three years,” the White House said in a press release. “This week’s announcements reinforce the President’s commitment to using every path available to deliver student debt relief to as many borrowers as possible through various actions.”...

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