Under Biden, student loan debt was canceled for another 150,000 borrowers

In his last term in office, President Joe Biden announced that his administration would forgive more than 150,000 borrowers’ student loans.

That relief, he said, would go to 85,000 people who “defrauded and defrauded their students,” 61,000 total and permanent disability borrowers, and another 6,100 public service workers.

“From day one of my administration, I have promised that higher education is a ticket to middle school, not a barrier to opportunity, and I am proud to say that we have forgiven more student loan debt than any administration in history,” Bain said.

Since taking office, Biden has forgiven the debt of more than 5 million federal student loan borrowers.

In the year In 2023, the Supreme Court blocked the president’s plan to grant massive student loan forgiveness to tens of millions of borrowers.

But the Biden administration has been able to eliminate much of the nation’s student debt by revamping the U.S. Department of Education’s debt relief programs.

Monday’s announcement includes $465 million in loan cancellations for government employees, $2.5 billion for borrowers with total and permanent disabilities and more than $1.25 billion for defrauded students.