Education Department Cancels Another $4.2 Billion in Student Loan Debt

The White House says it has forgiven more than $183 billion in owed student loans over the past four years.

US President Joe Biden speaks about student loan relief at Madison College in Madison, Wisconsin, on April 8, 2024. Photo by ANDREW CABALLERO-REYNOLDS / AFP

In the final days of his term, President Joe Biden announced the cancellation of federal student loan debt for more than 150,000 more borrowers.

The latest round of relief provides $1.26 billion for 85,000 individuals who attended schools that allegedly “cheated and defrauded their students;” $2.5 billion for 61,000 borrowers with total and permanent disabilities; and $465 million for 6,100 public service workers, the U.S. Department of Education said on Monday.