President Joe Biden is announcing another massive round of student loan debt cancellation.
On Friday, the White House announced a new plan to cancel the debt of 277,000 more Americans.
In a statement, the White House said, “Today, President Biden announced that 277,000 more Americans will get their student debt canceled, bringing the total debt relief approved by the Biden-Harris Administration to $153 billion for 4.3 million Americans through various actions.”
“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,” it added,
The statement explained, “Americans receiving this latest round of debt relief are borrowers enrolled in the SAVE Plan, other borrowers enrolled in Income-Driven Repayment plans, and borrowers receiving Public Service Loan Forgiveness.”
In a statement, Biden said, “From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us.”
Friday’s move comes after the Supreme Court rejected the president’s effort to erase some or all of student loan debt for millions of borrowers.
