Biden Administration Cancels Student Loans for 150,000 Borrowers, Totaling Over 5 Million Forgiven

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On January 13, 2025, President Joe Biden announced a new wave of student loan forgiveness, affecting more than 150,000 borrowers. This initiative specifically targets individuals who attended schools known for fraudulent practices, those with permanent disabilities, and public service workers. This latest round brings the total number of Americans who have benefited from student debt relief under the Biden administration to over 5 million.

The announcement detailed that nearly 85,000 of the newly eligible borrowers had attended schools that defrauded students, while about 61,000 had disabilities that permanently hinder their ability to repay loans. Additionally, approximately 6,100 public service workers will receive relief. The U.S. Education Department reported that this latest action, paired with previous debt relief measures, has resulted in a total of $183.6 billion in loan forgiveness.

Despite significant success in this initiative, the Biden administration has encountered legal challenges from Republican lawmakers and courts regarding broader student debt relief plans, a core promise of Biden's 2020 presidential campaign.

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