President Joe Biden delivered another wave of student loan forgiveness in his final days in office. Read more about the fortunate 150,000 borrowers whose debts were forgive inside.

While his broader promise to cancel widespread student debt faced significant setbacks, Biden’s administration has forgiven loans for a total of 5 million borrowers during his term.

The latest round of relief focuses on specific groups:

• 80,000 borrowers defrauded by their schools
• 60,000 borrowers with permanent disabilities
• 6,000 public service workers

This effort comes after the Supreme Court blocked Biden’s initial plan for widespread student debt cancellation. Despite the setback, his administration expanded existing loan forgiveness programs, like the Public Service Loan Forgiveness (PSLF) initiative. PSLF offers debt relief to public service workers—including teachers, firefighters, and nurses—who’ve made consistent payments for 10 years.

In addition, the administration increased Pell Grant awards, providing essential financial aid to low-income students and making higher education more accessible for those in need.

Biden stated he has, “forgiven more student loan debt than any other administration in history,” highlighting his aggressive approach to tackling the student debt crisis.

The numbers back this up:

• 1.4 million borrowers received forgiveness after paying for over a decade.
• 1 million public service workers saw their loans canceled.
• 1.7 million victims of predatory schools had their debts erased.
• 663,000 borrowers with permanent disabilities had their loans forgiven.

Despite these accomplishments, student debt relief remains a divisive issue. Critics argue that broad forgiveness unfairly burdens taxpayers and fails to address rising education costs. Opponents, including President-elect Donald Trump and his supporters, have signaled plans to roll back Biden’s efforts.

As the political landscape shifts, borrowers are left uncertain about the future of student debt relief. While Biden’s administration made some historic progress, the next steps will depend on how the incoming administration addresses the ongoing crisis. Borrowers and advocates alike will be watching closely in 2025 and beyond.

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