Biden Approves $4.2 Billion in Student Loan Relief for 150,000 Borrowers, Aiding Over 5 Million Total

Jan 13, 2025, 06:02 PM

In his final days in office, President Joe Biden has approved student loan relief for more than 150,000 borrowers, totaling $4.2 billion in debt cancellation. This brings the total number of individuals who have benefited from debt cancellation during his administration to over 5 million. The latest round of relief includes nearly 85,000 borrowers who were defrauded by their schools, 61,000 individuals with total and permanent disabilities, and 6,100 public service workers. The Biden administration has waived a total of $183.6 billion in student loans. This action comes as Biden's term nears its end, with President-elect Donald Trump set to take office soon. Trump has previously criticized student loan forgiveness as 'vile' and illegal, and it remains unclear how his administration will approach the issue.