Biden Administration Cancels Student Loans for 150,000 Borrowers Amid Ongoing Relief Efforts
In a significant move, President Joe Biden announced on Monday that his administration will provide student loan relief to over 150,000 borrowers. The decision targets individuals who attended institutions that engaged in fraudulent practices, as well as those with permanent disabilities and public service workers. This action brings the total number of Americans who have received loan forgiveness under Biden to over 5 million.
The relief package includes nearly 85,000 borrowers from predatory schools, 61,000 individuals with disabilities, and 6,100 public service employees. The Department of Education reported that the total amount of debt relief granted through 28 different actions by the Biden administration has reached $183.6 billion, with the latest announcement contributing more than $4.2 billion.
Despite these efforts, the Biden administration has encountered several legal challenges concerning broader student debt relief initiatives, which were pivotal in his 2020 electoral campaign.
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