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Tags: biden | collegeamerica | colorado college | student debt cancellation

Biden Cancels $130M in CollegeAmerica Student Debt

President Joe Biden as he signs a proclamation to establish the Emmett Till and Mamie Till-Mobley National Monument during an event in the Indian Treaty Room of the Eisenhower Executive Office Building next to the White House on July 25, 2023 in Washington, D.C. (Samuel Corum/AP)

Tuesday, 25 July 2023 01:54 PM EDT

U.S. President Joe Biden said 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.

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