Under our new proposal, if you owe more now than when you first started paying your student loans, we would cancel up to $20,000 in runaway interest.
And for low- and middle-class families enrolled in my SAVE plan, we would cancel all of your interest.
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President Biden
POTUS
If you entered repayment on your student loans over two decades ago but still have loans – we’re proposing that your debt is cancelled in its entirety.