STATEWIDE (NETWORK INDIANA) — According to numbers released by The White House Wednesday, Hoosier students are receiving an additional 2 billion dollars in student debt forgiveness.
Overall this round of debt forgiveness will impact more than 35,000 Indiana students. The debt relief was in two categories, income driven relief forgiveness, and public service loan forgiveness.
On a national scale this most recent round of debt relief provided 513,000 borrowers with a total or permanent disability with $11.7 billion. It also gave out $22.5 billion to 1.3 million borrowers who the release claims “were cheated by their schools, saw their institutions precipitously close, or are covered by related court settlements.”
This latest round of loan forgiveness is on top of the Biden Administration’s establishment of the SAVE repayment plan, which can make some borrowers’ monthly payments as low as $0 and prevents balances from growing due to unpaid interest.
The release also claims that the Biden administration has forgiven a total of 132 billion dollars in student loan debt so far.
