President Biden Forgives $4.2 Billion in Student Loans for 150,000 Borrowers, Total Relief Reaches Over 5 Million

Jan 13, 2025, 05:19 PM

President Joe Biden announced that his administration has approved student loan forgiveness for more than 150,000 borrowers, canceling $4.2 billion in debt in the latest round of relief. This brings the total number of individuals who have received debt relief under his tenure to over 5 million, with the total amount of student debt relief provided by the Biden administration now surpassing $183.6 billion. The latest round of forgiveness includes 85,000 borrowers who were defrauded by their schools, 61,000 borrowers with total and permanent disabilities, and 6,000 public service workers. Despite the previous collapse of his broader student loan forgiveness plan, Biden has now canceled more student loans than any other president in U.S. history.