Biden Cancels Nearly 153,000 More Student Loans

President Joe Biden announced Wednesday his administration is automatically canceling federal student loans for approximately 153,000 borrowers while talking to supporters in Culver City, California. In a year where the current president is suffering from low approval ratings, Biden indicated to attendees of his proclamation he plans to continue efforts to eliminate more student debt "as quickly as possible." Biden said the current loan forgiveness is part of the SAVE plan, where his administration plans to clear $1.2 billion in loans during its first phase.