Biden is canceling the most student loan debt yet: $5.8 billion. Who qualifies?
The Biden administration is erasing billions of dollars more in student loan debt, wiping the slate clean for hundreds of thousands of Americans.
The announcement is this year's biggest yet from the U.S. Department of Education, which has now canceled a total of almost $9 billion in student loans since President Joe Biden took office in January. With their balances gone, the borrowers are better able to save, invest or pay off other debts.
Meanwhile, tens of millions of Americans continue to wait for word on whether the president will provide student loan forgiveness on a grand scale.
New forgiveness is granted to disabled borrowers