Biden cancels $130 million in debt for students who attended Colorado college

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1970-01-01 08:00

U.S. President Joe Biden said on Tuesday his administration was canceling $130 million in debt for 7,400 student

U.S. President Joe Biden said on Tuesday his administration was canceling $130 million in debt for 7,400 student borrowers who attended CollegeAmerica in the state of Colorado.

"These borrowers were lied to, ripped off, and saddled with mountains of debt," Biden said in a statement announcing the move.

(Reporting by Rami Ayyub; Editing by Chris Reese)