The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt for 80,300 borrowers, bringing the total that taxpayer burden to $132 billion.
“I won’t back down from using every tool at our disposal to get student loan borrowers the relief they need to reach their dreams,” President Joe Biden said in a Dec. 6 statement, in which he made clear that his administration is undeterred by the recent Supreme Court decision to block a wide-ranging initiative to cancel up to $20,000 in debt per student.
