In farewell action, Biden cancels $4.28B additional student loan debt

President Biden announced Friday that he is canceling $4.28 billion in student loans for nearly 55,000 public service workers as he prepares to exit the White House.

The latest round of debt forgiveness brings the total amount of canceled loans by Mr. Biden to $180 billion for nearly 5 million Americans, according to the Department of Education. 

Friday’s action targets teachers, nurses, service members, law enforcement officials and others eligible under the Public Service Loan Forgiveness program, which erases loans after a decade of work in government or nonprofit jobs.