Will Biden cancel $39 billion in federal student loans?

The Biden administration announced Friday that it will cancel $39 billion in federal student loans for more than 804,000 borrowers, following the US Supreme Court ’s decision last month to strike down the White House’s previous student loan forgiveness plan.

How much student loan forgiveness has Biden-Harris approved?

In total, the Biden-Harris Administration has approved more than $116.6 billion in student loan forgiveness for more than 3.4 million borrowers.

How many borrowers are eligible for student loan forgiveness?

Today’s data show how many borrowers and the total amount that is eligible for relief in each state and territory as a result of this action. Since the beginning of the Biden-Harris Administration, the Department has approved more than $116 billion in student loan forgiveness for more than 3.4 million borrowers.