In yet another move circumventing the Supreme Court on the question of student loan debt, Joe Biden announced the cancellation of approximately $1.2 billion in student loan debt for about 153,000 borrowers.
As reported by ABC News, the Biden Administration made the cancellation official on Wednesday, including a draft email that will be sent to all of the borrowers in question. The email will read, in part: “Congratulations — all or a portion of your federal student loans will be forgiven because you qualify for early loan forgiveness under my Administration’s SAVE Plan.”
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