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Forbes
22 May 2024
President Joe Biden announced Wednesday he is canceling another $7.7 billion in student debt, the latest move in his signature relief targeting education debt that has faced fierce pushback from Republicans.
President Joe Biden announced another round of student debt relief on Wednesday.
In a statement, Biden said the latest relief action will affect around 160,000 people and cancel over $35,000 of debt on average.
The president said the recipients of the debt relief are “public service workers like teachers, nurses, or law enforcement officials,” those enrolled in the White House’s SAVE plan, and borrowers approved under the “fixes we made to Income-Driven Repayment” plans.
This is a developing story.