WASHINGTON — More Marylanders will soon see relief regarding their student loan debt.
President Biden announced Thursday that 4,890 more borrowers will have their student loan debt canceled.
The 4,890 borrowers in Maryland receiving the debt relief are those enrolled in the SAVE Plan who took out low balances of loans, other borrowers who enrolled in the income-driven plans but never got relief, and borrowers who received Public Service Loan Forgiveness.
“Today, my Administration is cancelling student debt for 277,000 more people, bringing the total number of Americans who have been approved for debt relief so far under my Administration to 4.3 million borrowers through various actions," President Biden said. "These 277,000 borrowers are enrolled in my Administration’s SAVE Plan, or were approved for relief because of fixes we made to Income-Driven Repayment Plans and Public Service Loan Forgiveness,” said President Biden. “From day one of my Administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us.”
In Maryland alone, the Biden-Harris Administration has approved $3.6 billion in debt cancellation for 63,360 people.
Since taking office, Biden has approved over $54 billion in debt cancellation for 1.4 million borrowers enrolled in income-driven repayment plans.
