Desperation: White House Announces $7,400,000,000 Student Debt Cancellation

By Mike Fishmore | April 14, 2024

National debt

The White House revealed its decision to eliminate an extra $7.4 billion in debt as part of the Biden administration's recent push for broad student loan forgiveness before the election. 
 

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This initiative aims to assist around 277,000 borrowers nationwide amid a national debt exceeding $34.5 trillion. 
 

Loan forgiveness proposal

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Biden promoted the Saving on a Valuable Education (SAVE) plan, developed following the Supreme Court's rejection of his initial student loan forgiveness proposal.