The Biden Administration is set to enact another suite of student loan forgiveness, aimed at borrowers who have consistently made loan payments and currently have balances below $12,000.
Last week, Education Department Secretary Miguel Cardona announced that the department would be fast-tracking a wave of debt relief originally slated for July. The forgiveness will occur as part of the larger rollout of the new Saving on a Valuable Education (SAVE) plan—an extremely generous loan repayment plan targeted at lower-income borrowers.
