Following the implementation of President Joe Biden’s federal taxpayer-funded student loan-debt cancellation program on Wednesday, February 21, the first state-level figures have revealed that 1,650 individuals in Nevada have benefited from a collective $13.9 million in debt relief.
“For the first time in my adult life, I am debt free from college,” said one Virginia City resident.
The program, Student Aid Verification for Education (SAVE), offers students the opportunity to alleviate their loan burdens. It specifically targets borrowers who have made payments for at least ten years and whose remaining principal is less than $12,000.
Those who enrolled in SAVE and met the eligibility criteria should have received a notification email from the Biden Administration. The email confirmed the cancellation of their remaining loans and assured recipients that no further action on their part was required.
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