Biden cancels student loans for 150,000 more borrowers
President Joe Biden announced his administration had approved student loan relief for more than 150,000 borrowers, bringing the total number who have had their student debt cancelled under the Biden administration to over 5 million.
President Joe Biden announced Monday that his administration had approved federal student loan relief for more than 150,000 borrowers, bringing the number whose student debt has been canceled during his administration to over 5 million, he said in a White House release.
Although Biden lost the legal battle to deliver on his campaign promise to implement a broad federal student loan forgiveness program, he said Monday that his administration has still "forgiven more student loan debt than any other administration in history."
The 150,000 new beneficiaries announced Monday include more than 80,000 borrowers who were cheated or defrauded by their schools, over 60,000 borrowers with total and permanent disabilities and more than 6,000 public service workers, Biden said in the release.
The Biden administration has focused on revising and expanding federal student loan forgiveness programs that existed before Biden took office. That approach allowed the administration to expand loan forgiveness options despite its failure to implement new federal forgiveness programs after the Supreme Court struck down Biden’s initial plan in 2023.
The Education Department pivoted to existing pathways meant to lift the financial burden of loan repayments on some of the country’s most financially vulnerable borrowers.
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