TUCSON, Ariz.  – Today, the Biden administration automatically forgave $1.2 billion in student debt for 153,000 borrowers for those eligible under the Saving on a Valuable Education (SAVE) Plan. It builds on the approved relief for 3.9 million borrowers under the Biden-Harris Administration. Rep. Raúl M. Grijalva (AZ-07) released the following statement:

“President Biden is keeping his promise to Americans struggling with overwhelming student loan debt. The skyrocketing cost of college has driven many into debt and has kept people from starting families, buying a home, building a business, or just being able to make ends meet. This announcement is a weight off the shoulders of hundreds of thousands of Americans who have been paying back loans for more than 10 years. We must continue to build on this historic progress to ensure affordable higher education and long-term student debt relief for all.”  

Borrowers can learn more about forgiveness programs at StudentAid.gov/forgiveness. Borrowers can learn more about the right repayment plan for their financial situation at StudentAid.gov/restart. More information about the SAVE plan is available at StudentAid.gov/save.