The Biden-Harris Administration announced today the approval of $7.4 billion in additional student loan debt relief for 277,000 borrowers. These discharges are for borrowers who signed up for President Biden’s Saving on a Valuable Education (SAVE) Plan and are eligible for its shortened time-to-forgiveness benefit and as a result of fixes made by the Administration to income-driven repayment (IDR) forgiveness. This action comes as nearly 8 million borrowers have been helped by the SAVE plan. That includes 4.5 million with a $0 monthly payment.
