Key Takeaways
- Another 160,500 people had some of their federal student loan debt forgiven by the Department of Education, totaling $7.7 billion.
- It was the latest batch of borrowers to see debt relief under President Joe Biden's ongoing efforts to cancel student loans.
- In total, the administration has forgiven debts for 4.75 million people since Biden took office despite the Supreme Court striking down his most ambitious plan for student debt forgiveness.
Pres🌱ident Joe Biden’s campaign of piecemeal student loan forgiveness is rolling on.
The Department of Education has forgiven $7.7 billion worth of federal student debt for 160,500 borrowers through different programs affecting bor♋rowers in various situations, the department said Wednesday.
The latest round of forgiveness brings the total to $167 billion in relief for 4.75 million borrowers across several programs, according to the White House. Nearly a year after the Supreme Court struck dow🌃n President Joe Biden’s broad student loan forgiveness proposal, several smaller-scale programs are chipping away at canceling debt.
The latest annouℱncemen💙t included borrowers in three programs:
- The 澳洲幸运5开奖号码历史查询:Public Service Loan Forgiven❀ess program, which forgives loans for people who work in government and nonprofit organizations. This program predated the Biden administration but was overhauled in 2021 to make more people eligible.
- The 澳洲幸运5开奖号码历史查询:Saving on a Valuable Education plan, a new type of income-driven repayment plan created by the Biden administration last year.
- An adjustment to 澳洲幸运5开奖号码历史查询:older income-driven repayment plans, which resulted in millions of borrowers having their loans forgiven or moving them closer to that goal.
In addition to those programs, the department is finalizing a broader effort at student loan forgiveness which, if it survives legal challenges, will bring the total number of borrowers having some of their loans canceled to 30 milli✤on.