Thousands of students in Massachusetts are set to have their student loans forgiven.
The Biden administration provided new details overnight on how their newly released plan to relieve student debt impacts the Bay State.
Out of 153,000 people getting their student loans forgiven in the country, 6,000 are in New England.
Massachusetts tops the New England list with almost 2,500 borrowers with $19.5 million forgiven, followed by Connecticut with 1,600 people and almost 14 million in debt cancellation and smaller figures for the rest.
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President Joe Biden's Saving on a Valuable Education Plan, or SAVE, is forgiving a total of $1.2 billion in student loans nation-wide.
There's currently 7.5 million people enrolled in the SAVE plan, with 100,000 of them in the Commonwealth.
The U.S. Education Department said it's trying to expand the program and hopes to get to a point where it will be forgiving student loans on a regular basis.
"While a college degree is still a ticket to a better life, that ticket is too expensive and too many Americans are still saddled with unsustainable debt in exchange for a college degree," said Biden.
To qualify for future loan forgiveness, you must be enrolled in the SAVE plan, have been making payments for at least 10 years and taken out $12,000 or less for college.
