The Biden-Harris administration is set to announce the automatic discharge of $1.2 billion in student loans for nearly 153,000 eligible borrowers under President Joe Biden's Saving on a Valuable Education (SAVE) Plan.
With 7.5 million borrowers now enrolled in SAVE, this action is a big step in the administration's efforts to provide relief to student loan borrowers. U.S. Secretary of Education Miguel Cardona highlighted the importance of this announcement, stating, "if you've been paying for a decade, you've done your part, and you deserve relief."
