More than 150,000 people will qualify for another round of federal loan forgiveness the Biden administration announced on Monday. Roughly $4.2 billion in loan cancellation will come right before President Joe Biden leaves office.
Those who qualify include students from schools that misled them, borrowers with disabilities and public servants.
“Since Day One of my Administration, I promised to ensure higher education is a ticket to the middle class, not a barrier to opportunity, and I’m proud to say we have forgiven more student loan debt than any other administration in history,” Biden said.
While the Supreme Court blocked Biden’s student loan forgiveness plan in 2023, he was able to forgive a total of $183.6 billion for 5 million federal student loan borrowers by “improving the U.S. Department of Education’s existing debt relief programs,” CNBC reported.
This round of relief will cancel $465 million in student loans for 6,100 borrowers public service workers, $2.5 billions for 61,000 borrowers with a total and permanent disability and $1.25 billion for 85,000 people who attended schools that “cheated and defrauded their students,” Biden said.
To see if you qualify for Student Loan Forgiveness, click here.
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