The corrupt Biden regime is now canceling another $1.2 billion in student loan debt for over 150,000 borrowers.
Biden activated a Savings on Valuable Education (SAVE) plan policy. He did this six months ahead of schedule. This will cancel the debt for enrolled borrowers who have been in repayment for at least 10 years and have $12,000 or less in student loans debt.
Those people with larger loan debt will receive more relief after each additional year of payments for every $1,000 they borrowed.
"This shortened time to forgiveness will particularly help community college and other borrowers with smaller loans and put many on track to being free of student debt faster than ever before. Under the Biden-Harris Administration's SAVE plan, 85% of future community college borrowers will be debt free within 10 years," the White House said in a statement.
"With today's announcement, weare once again sending a clear message to borrowers who had low balances: if you've been paying for a decade, you've done your part, and you deserve relief. Under President Biden's leadership, our Administration has now approved loan forgiveness for nearly 3.9 million borrowers and our historic fight to cancel student debt isn't over yet," Secretary of Education Miguel Cardona said.
Biden has now wiped out $138 billion in federal student loans from almost 4 million borrowers without a single act of Congress.
This regime continues to lie about fixing student loans. They have done nothing to tackle the cost or any other issues today's students face. Just wiping out debt doesn't address anything except wasting taxpayers money on woke BS. No piece of legislation has been brought or debated on. This only caters to the left and their social agenda instead of trying to address the issue of the cost of education.
By - SC
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