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Biden Administration Forgives $7.7 Billion Loans For 160,000 Borrowers

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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:

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.

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