Biden says too many Americans are saddled with school debt as he cancels federal loans for 153,000

By AAMER MADHANI, COLLEEN LONG and COLLIN BINKLEY
Associated Press

CULVER CITY, Calif. (AP) — President Joe Biden says that while a college degree is still a ticket to a better life, that ticket is often too expensive. He was talking Wednesday at a library in Culver City, California, where he announced he was canceling federal student loans for nearly 153,000 borrowers. Biden said he made it a priority to fix the nation’s student loan system and is putting the spotlight on his debt cancellation efforts as he ramps up his reelection campaign. The administration began sending email notifications Wednesday to some of the borrowers who will benefit from what the White House has called the SAVE program.