Receive daily email updates from our reporters across the United States.
Here is a summary of the most recent news stories from all over the United States.
The Biden Administration revealed that approximately $5 billion in student debt has been eliminated, providing assistance to 74,000 individuals who borrowed money.
Over 44,000 individuals who have been repaying debts for more than a decade, including educators, medical professionals, and emergency responders, have received relief through the cancellations.
Earlier this month, the president announced that individuals who borrowed less than $12,000 and have been repaying their loans for 10 years will have their remaining loans forgiven if they are enrolled in the Saving on a Valuable Education (SAVE) plan.
The White House announced that the SAVE plan has been implemented six months earlier than expected.
Based on the announcement made on Friday, the number of people who will have their student loans forgiven has increased, with a total of over 3.7 million Americans now eligible. Those who qualify for the SAVE program can sign up at studentaid.gov.
.
Biden has been a vocal supporter of eliminating student loan debt for a significant amount of time.
A statement from President Biden stated that his Administration has successfully provided assistance to these borrowers, as well as millions of others. This was made possible through addressing issues with flawed student loan programs, which were previously hindering borrowers from receiving the relief they deserved according to the law.
Mr. Biden, who has been a strong supporter of canceling student debt for a long time, has previously encountered resistance. Last year, the US Supreme Court declared that the president did not have the power to cancel student loan debt on a large scale.
Last Friday, he restated his dedication to the issue and stated that the Administration will persist in finding a different approach to providing student debt relief to as many borrowers as possible, as quickly as possible.
Since the very beginning of my term, I made a promise to enhance the student loan process, ensuring that pursuing higher education leads to opportunities and success rather than overwhelming debt. Mr. Biden reiterated this in his statement.
I will not hesitate to utilize all available resources to provide student loan borrowers with the assistance they require to achieve their aspirations.
Source: independent.co.uk
