Federal Government Cancels $4.28 Billion in Student Loan Debt

The federal government also approved $16.2 billion in relief for nearly 572,000 borrowers with a total and permanent disability.

President Joe Biden speaks about student loan relief at Madison College in Madison, Wis., on April 8, 2024. Andrew Caballero-Reynolds/AFP via Getty Images

President Joe Biden announced on Dec. 20 that the federal government has canceled an additional $4.28 billion in student debt for 55,000 public service workers across the country.

In a statement, Biden said teachers, nurses, service members, and law enforcement officials, are among the public service workers who will benefit from the latest debt cancellation.