The Biden administration earlier this month announced it would cancel student debt of more than 277,000 borrowers.
The administration is forgiving $7.4 billion for borrowers in more than 40 states in the latest debt relief program, bringing the total amount of student loan cancellation over Biden’s presidency to $153 billion.
The latest loan forgiveness initiative is coming through various income-driven repayment (IDR) plans, including the president’s newly established SAVE program.
