Biden Approves Final $4.2 Billion Student Loan Forgiveness for 150,000 Borrowers

The move brings the total student debt relief under Biden's administration to $183.6 billion, benefiting over 5 million borrowers.

The latest relief targets 85,000 borrowers defrauded by schools, 61,000 with total and permanent disabilities, and 6,100 public service workers.
This marks the 28th student loan forgiveness action by the Biden administration, leveraging pre-existing programs like Borrower Defense and Public Service Loan Forgiveness (PSLF).
Biden's administration has provided more student debt relief than any other in U.S. history, despite setbacks like the Supreme Court's 2023 rejection of broader forgiveness plans.
The total relief includes $1.26 billion for defrauded borrowers, $2.5 billion for those with disabilities, and $465 million for public servants.
Future forgiveness efforts face uncertainty as President-elect Donald Trump has criticized such initiatives and may seek to scale back or eliminate existing programs.