Get all your news in one place.
100's of premium titles.
One app.
Start reading
WEKU
WEKU
Ana Perez

Student loan balances wiped for the first batch of borrowers in Biden's SAVE plan

Secretary of Education Miguel Cardona answers questions during the daily briefing at the White House Aug. 5, 2021, in Washington, D.C. (Win McNamee/Getty Images)

An email went out this morning to some student loan borrowers basically saying, you're debt free.

On Wednesday, the federal Education Department zeroed out loan balances for nearly 153,000 borrowers. They are people who borrowed $12,000 or less, have been paying their student loans for at least 10 years, and enrolled in the Biden administration's new repayment plan called SAVE launched last summer.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.