Biden Announces $9 Billion Student Loan Debt Relief for 125,000 Borrowers

The Biden administration has approved an additional $9 billion in debt relief for 125,000 student loan borrowers, just days after federal student loan payments resumed. This brings the total approved debt cancellation to $127 billion for nearly 3.6 million borrowers during Biden's time in office. The cancellations come through existing debt relief programs, including the Public Service Loan Forgiveness program, a recount of past payments, and automatic debt discharge for borrowers with disabilities. The administration is also exploring other pathways for debt relief and has implemented measures to make monthly payments more affordable.