The impacted borrowers are people enrolled in the SAVE Plan.

The impacted borrowers are people enrolled in the SAVE Plan.

The Biden administration will begin automatically relieving student debt for another 153,000 people on Wednesday, bringing the total number of Americans approved for debt relief to nearly 3.9 million.

President Joe Biden will tout the new debt relief in a speech from Los Angeles, and thousands of people will receive an email from the president informing them that they now qualify for relief.

“Congratulations — all or a portion of your federal student loans will be forgiven because you qualify for early loan forgiveness under my Administration’s SAVE Plan,” the email from the president will read.

The people receiving debt relief beginning Wednesday are those who enrolled in the newest student loan payment plan, called the SAVE Plan, which the Department of Education calls the most affordable plan for the majority of borrowers.

Anyone enrolled in the SAVE Plan who took out less than $12,000 in initial loans and has been paying them down for the past 10 years or more will have them forgiven.

  • khoplex@lemmy.one
    13·
    9 months ago

    People have a profound lack of understanding about the “billions of dollars to other countries to fund wars”. Honestly, it’s like this country has gone full “Idiocracy”.

    Honey, sweetie, baby, it’s a simplistic way of putting it. I’m sure that raging at strangers on the internet is a good time for you but please take some time to breathe in between so you don’t give yourself an aneurysm.

    That’s why House Republicans are blocking aid to Ukraine because they want to tank the economy.

    Literally not part of the current discussion, but it is no big surprise to anyone what the republicans are doing.