The Biden administration announced another $7.4 billion in student loan forgiveness on Friday.
The U.S. Supreme Court struck down President Biden’s student loan cancellation plan last June. Since then, Biden has announced more student loan cancellations, totaling $153 billion.
The Biden administration announced Friday that it will forgive student loan debt for another 277,000 borrowers.
“As long as there are people with overwhelming student loan debt competing with basic needs such as food and healthcare, we will remain relentless in our pursuit to bring relief to millions across the country,” U.S. Secretary of Education Miguel Cardona said in a statement.
More than 206,000 borrowers will see $3.6 billion erased from their student loan debt. A total of up to $20,000 in loan forgiveness per borrower.
Another 65,000 borrowers will have their loans canceled through the Department of Education’s repayment plans for low-income borrowers.
And 4,600 borrowers will benefit from the government’s loan forgiveness program for public servants.
