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More than $80 million in federal student loan debt will be discharged for over 3,500 former Massachusetts borrowers who attended “predatory” art colleges, including the New England Institute of Art.
The Biden administration said Friday that is using existing student loan forgiveness programs to cancel another round of student debt, totaling $7.4 billion for 277,000 borrowers.
More than 150,000 borrowers enrolled in SAVE received a discharge this week. Most of them live in Texas, Florida, or California.
Arkansas student loan borrowers are among those impacted by a Biden administration plan providing $1.2 billion in student loan forgiveness nationwide.
The Biden administration announced Wednesday it is forgiving a total of $1.2 billion in student debt for roughly 153,000 borrowers. The relief comes through the Saving on a Valuable Education (SAVE) repayment plan, which made changes to income-driven repayment plans in the wake of a Supreme Court decision overturning President Biden’s more ambitious student loan…