President Joe Biden’s administration will cancel another $1.2 billion in student loans.
This move comes as part of the administration’s ongoing commitment to addressing the financial challenges faced by many Americans in the realm of higher education.
The cancellation will primarily impact borrowers who were defrauded by for-profit colleges and those who attended schools that have since closed.
The new wave of relief applies to people enrolled in a repayment program known as SAVE and covers those who borrowed less than 12-thousand-dollars and have been repaying the money for at least 10 years.
