Biden Announces Cancellation Of Another $4 Billion In Student Loans

The Biden administration said Friday that it would cancel another $4.28 billion in student loan debt for nearly 55,000 people, bringing the total amount of student debt forgiven by the administration to around $180 billion. 

The Department of Education announced that it was canceling the debt of 54,900 borrowers through the Public Service Loan Forgiveness (PSLF) Program. Although the Supreme Court struck down President Joe Biden’s broad student loan cancellation program last year, Biden has continued to cancel chunks of student loan debt through other programs. 

“Four years ago, the Biden-Harris Administration made a pledge to America’s teachers, service members, nurses, first responders, and other public servants that we would fix the broken Public Service Loan Forgiveness Program, and I’m proud to say that we delivered,” said Secretary of Education Miguel Cardona.