NATION: Today, an announcement made by the White House provides information in regard to the 160,000 student loans that have been added a total amounting to $7.7 billion dollars in student loan relief. Prior to the most recently relieved loans, the Biden administration had, already, stacked up $167 billion dollars in relief to 5 million US students. By Michelle Crawford-Sapenter From day one...I promised to fight to ensure that higher education is a ticket to the middle class. "--US President Joe Biden President Biden commented, today, that he will never stop working to cancel student debt despite the Republicans who oppose the Biden administration SAVE Act plan. The President stated that the most recently signed package will establish 3 categories including borrowers who have reached milestones that make them eligible for cancellation. 54,000 US student loan borrowers will be enrolled in the President's new income contingency plan. The Biden plan will provide for 39,000 student borrowers who would be enrolled in the early-income driven plan and 67,000 students who are eligible through the Public Service Forgiveness plan. While 11 states have continued to oppose Biden's plan, their opposition may result in those state's resident student borrowers being left out of enrollment in the SAVE Act student loan relief plan. A total of 18 states remain outstanding, avoiding the adoption and legalization of the student loan relief program. As the program moves forward, steps continue to be taken to unclog the system that, for a number of weeks, delayed enrollments by applicants in the Public Service Loan Forgiveness plan--the program making eligible students who were previously enrolled in a repayment plan. For US students, the SAVE Act has provided a means by which to secure a clean credit record. More recently, Vice President Kamala Harris announced that the SAVE Act has included a statute that prohibits student loan credit from being included in a credit report statement. The next step in the SAVE Act will find the administration at work to eliminate unpaid interest for millions of borrowers. The Biden-Harris administration's recently added plans are expected to be worked through a somewhat complex process and be available for students by the fall.
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