President Joe Biden’s administration forgave another $7.7 billion in student loan debt for about 160,000 borrowers on Wednesday.
The president announced in a statement that he forgave the debt of applicants enrolled under his administration’s Saving on a Valuable Education (SAVE) repayment plan, including teachers, nurses or law enforcement officials. The Supreme Court, in a 6-3 ruling, blocked the Biden administration’s plan in June 2023 to grant student loan forgiveness to nearly 40 million Americans using executive power. The president’s SAVE plan was announced in a response to the ruling. (RELATED: Biden Admin’s New Student Loan Plan Will Involve Zero-Dollar Payments For Millions, No Penalties For A Year)
“Today’s announcement comes on top of the significant progress we’ve made for students and borrowers over the past three years,” Biden said in a statement. “That includes providing the largest increases to…
