Biden Unveils New Sweeping Student Loan Debt Relief Measures, Surpassing 3.7 Million Beneficiaries

President Biden continues to make significant strides in alleviating the student loan debt crisis, announcing the approval of debt cancellation for an additional 74,000 student loan borrowers. The latest action contributes to the record-breaking relief the administration has provided to more than 3.7 million Americans. Earlier this month, Biden announced the accelerated implementation of a crucial provision under the Student Aid for Voluntary Education (SAVE) plan, which the administration said has helped 3.6 million Americans by canceling their student debt. Biden said the plan aims to create a more affordable student loan repayment structure while providing life-changing support to students and their families. “Today, my administration approved debt cancellation for another 74,000 student loan borrowers across the country, bringing the total number of people who have had their debt canceled under my administration to over 3.7 million Americans through various actions,” Biden said in a statement on Jan. 19. The beneficiaries of the latest round of relief include nearly 44,000 teachers, nurses, firefighters, and other public service professionals who have earned forgiveness after a decade of dedicated service. Additionally, close to 30,000 individuals who have been in repayment for at least 20 years without receiving relief through income-driven repayment plans...