Texas receives more student loan debt forgiveness as Compared to other states

WASHINGTON, D.C. – More than any other state, Texas is giving the most of President Joe Biden’s $1.2 billion plan to forgive student loans to people who have them. The White House says that of the $1.2 billion, $116.6 million will be given to Texas and $114.8 million will be given to California, which has 8.5 million more people. This is a difference of over $2 million. This shows that more Texas students have had a hard time paying off their long-term debt.

Recently, student loan borrowers have started to sign up for SAVE, a payback plan based on income. 7.5 million people have already signed up for the SAVE plan, which can lower monthly payments based on income. The program is only for people who are registered in SAVE, have been making payments for at least 10 years, and have less than $12k in loans.

A person who is against the plan, U.S. Rep. Troy Nehls, wrote on X, “Joe Biden “canceled” $1.2 billion in student loans while leaving taxpayers to pay for it.” “It was all done to get votes,” Nehls wrote. “Pay back any loans you get.” “I can’t believe I need to say this.”

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During an event in California last week, Biden said, “A college degree is still a ticket to a better life, but it costs too much, and too many Americans are still in too much debt to pay for it.”

Biden emailed more than 150,000 student loan borrowers, including 14,510 Texans, last week to let them know that their debt was forgiven. People who borrowed money for school and haven’t gotten an email should check their spam box. You can check the website of the company that handles your loans or go to www.studentaid.gov.