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More than 3,000 Hoosiers will have student loan debt erased

3,300 Hoosiers will see their student loans canceled

INDIANAPOLIS (WISH) — More than 3,000 Indiana residents will have their student loan debt erased in the newest wave of loan cancellations.

The White House confirmed the numbers to News 8 on Friday morning.

The Biden administration’s Saving on a Valuable Education plan will wipe out loans for 3,300 Hoosiers, totaling $26 million.

President Joe Biden announced the move Wednesday under the SAVE plan, which covers those who have repaid on loans for at least 10 years and borrowed less than $12,000.

If your student loan is one of those getting canceled, you should receive an email from the U.S. Department of Education.

Borrowers who think they might benefit from the program are encouraged to visit the SAVE plan website.

Click here to learn more about the SAVE program and enroll if eligible.