(Washington, DC) — President Biden says that federal student debt will be wiped clean for some who took out small loans. Those who got less than 12-thousand-dollars in loans, and have been paying them off for at least ten years will see their remaining debt cancelled. The debt forgiveness applies to those who are enrolled in the SAVE repayment plan, and will particularly help those who borrowed for community college and low income borrowers. The Education Department hasn’t specified exactly how many borrowers, of the roughly seven million already enrolled in SAVE might benefit from the program.
