Biden announces plan to cancel $1.2 billion in student loan debt
The Biden administration announced plans to relieve $1.2 billion in student debt for 153,000 borrowers.
During a visit to California Feb. 21, President Joe Biden told supporters that relieving Americans of student debt allows them to “chase their dreams.” According to the White House, this latest tranche of forgiveness brings up the total cancellation of student debt to $138 billion for nearly 3.9 million.
Qualifying borrowers, or those who originally borrowed up to $12,000 and have been making monthly payments for at least 10 years, will receive an e-mail from the president in the coming days.
Read more: LA Times
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