Serving Metropolitan Detroit Since 1944

Pres. Biden Cancels $1.2 Billion in Student Debt

Action Benefits More Than 150,000 Loan Borrowers

On Feb. 21, President Joe Biden announced the cancellation of $1.2 billion in student debt for almost 153,000 borrowers enrolled in the Saving on a Valuable Education (SAVE) repayment plan.

Biden shared the news during a campaign stop while on a tour of California. From Feb. 20 to Feb. 22, the President visited Los Angeles, San Francisco, and Los Altos Hills.

"There were existing programs in the law for fixing and adjusting the programs. We had to change them to make people eligible. And that's what I've done," Biden said, speaking at the Julian Dixon Library in Culver City.

After the Presiden...

 

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