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Chicago Sun-Times

National

Lynn Sweet

Biden announces new round of student loan cancellations

Joe Biden Illinois SAVE

The bell tower at Altgeld Hall, one of the oldest buildings on the University of Illinois’ Urbana-Champaign campus (Associated Press)

WASHINGTON — Nearly 245,000 borrowers in Illinois holding student loans under the SAVE plan may be eligible to get their debt wiped out under a new program President Joe Biden is announcing on Thursday.

The debt forgiveness is open to borrowers who are enrolled in the Saving on a Valuable Education Plan, or SAVE.

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