Biden Cancels $72 Million in Loans for 2,300 Student Borrowers

Biden has offered loan relief for over 2,300 students—part of the administration’s effort to bypass SCOTUS ruling.

President Joe Biden (L) announces student loan relief with Education Secretary Miguel Cardona at the White House on Aug. 24, 2022. Olivier Douliery/AFP via Getty Images

The Biden administration has approved a $72 million student loan forgiveness initiative to provide relief for students who were defrauded by a California-based online school.

The loan forgiveness will be applicable to more than 2,300 students who attended Ashford University, a former online for-profit school based in San Diego, the U.S. Department of Education (DOE) announced in an Aug. 30 statement.