A total of 3,040 federal student loan borrowers in Virginia had a combined $24.6 million in debt forgiven under President Biden’s Saving on a Valuable Education (SAVE) plan.
Last week, the Biden Administration provided a state-by-state breakdown on the SAVE plan. Servicers started processing this forgiveness on Friday.
“When we talk about fixing a broken student loan system, this is what we’re talking about,” U.S. Secretary of Education Miguel Cardona said on Friday. “The state-by-state SAVE plan debt forgiveness numbers we’re announcing today not only show that President Biden’s leadership is making a real impact on people’s lives in every state—they demonstrate that we won’t ever stop fighting to make higher education more affordable and accessible for more Americans. This is that commitment in action. This is the real deal.”
Borrowers in every single state across the country and territories will have their loans canceled under this action. President Biden emailed borrowers in all 50...