Biden Cancels Student Loans for 150,000 Borrowers, Reaching 5 Million Total Forgiven

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In a significant move, President Joe Biden announced on January 13, 2025, the cancellation of student loans for over 150,000 borrowers. This latest relief measures target individuals who attended fraudulent educational institutions, those with permanent disabilities, and public service workers. This announcement brings the total number of Americans whose student debt has been relieved under Biden's administration to more than 5 million.

Among those included in this relief are nearly 85,000 borrowers from institutions accused of cheating students, 61,000 who are permanently disabled, and 6,100 public service workers. The U.S. Education Department stated that the latest relief amounts to over $4.2 billion, contributing to a total of $183.6 billion forgiven across 28 different debt relief actions since Biden took office.

Despite facing considerable legal challenges to his student debt relief initiatives from Republican lawmakers and the judiciary, Biden has made this issue a key element of his administration's agenda and a campaign promise from the 2020 presidential race.

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