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U.S. President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, on April 8, 2024.
Andrew Caballero-Reynolds | AFP | Getty Images
In his last days in office, President Joe Biden announced that his administration would pardon student debt for more than 150,000 loans.
That relief includes nearly 85,000 people who attended schools that “cheated and cheated their students,” 61,000 teachers with total and permanent disabilities and another 6,100 public service workers, Biden said in a statement.
“Since the first day of my administration, I have promised to make sure that higher education is a ticket to the middle class, not a barrier to opportunity, and I am proud to say that we have forgiven more student loan debt than any other administration in history.” Biden said.
Since Biden took office, he has forgiven the debt for more than 5 million federal student loans, for a total of $183.6 billion in relief.
In 2023, the Supreme Court blocked the president’s plan to provide large-scale student loan forgiveness for tens of millions of borrowers.
But the Biden administration has also managed to wipe out a large portion of the country’s outstanding student debt by improving existing US Department of Education debt relief programs.
Monday’s announcement included $465 million in loan cancellations for public servants, $2.5 billion for loans with total and permanent disabilities and more than $1.25 billion for defrauded students.
