The U.S. Department of Education on Friday said it’s canceling nearly $5 billion in federal student loan debt owed by some 73,600 borrowers, a majority of whom are public servants.
The announcement marks the the latest effort by the Biden administration to target specific groups of federal student loan borrowers by tweaking and expanding rules under existing relief programs, after the U.S. Supreme Court shot down its broader and more expensive debt cancellation plan.
