The Biden administration forgave $1.2 billion in student debts for more than 150,000 borrowers on Wednesday as part of the 's aggressive plan to help Americans paying back their loans.
The move brings the total student loan debt canceled under Biden to nearly $138 billion for nearly 3.9 million borrowers since he took office.
Wednesday’s announcement marks the first group of borrowers to be approved for student loan relief under the Saving on A Valuable Education (SAVE) plan’s shortened repayment period and comes six months earlier than previously anticipated.
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