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EBRUARY 21: U.S. President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library on February 21, 2024 in Culver City, California. The Biden administration announced it will forgive $1.2 billion in student debt for more than 150,000 borrowers who are enrolled in the Saving on a Valuable Education (SAVE) repayment plan. According to the White House, Biden has canceled a total of $138 billion in student debt for close to 3.9 million borrowers.
Mario Tama
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Getty Images
Thousands of borrowers nationwide will see the remainder of their federal student loan debt forgiven if they qualify under a newer income-driven repayment plan.
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